Gasoline Prices Rise for 8th Week... 1,807 Won per Liter
Korea National Oil Corporation, Domestic Oil Price Trends for the 2nd Week of November
[Asia Economy Reporter Jusangdon Joo] Domestic gasoline retail prices have risen for eight consecutive weeks, surpassing 1,800 KRW per liter.
According to the Korea National Oil Corporation on the 14th, the gasoline retail price at gas stations in the second week of November increased by 19.0 KRW from the previous week to 1,807.0 KRW/ℓ, marking eight consecutive weeks of increase.
The average price at discount gas stations was the lowest at 1,777.5 KRW/ℓ, while GS Caltex gas stations recorded the highest price at 1,815.7 KRW/ℓ.
The highest-priced region, Jeju, saw gasoline prices rise by 40.7 KRW from the previous week to 1,895.4 KRW/ℓ, which is 88.4 KRW higher than the national average price. The lowest-priced region, Busan, recorded a gasoline price of 1,784.1 KRW/ℓ, up 19.2 KRW from the previous week, which is 22.9 KRW lower than the national average price.
Diesel retail prices rose by 17.4 KRW from the previous week to 1,602.6 KRW/ℓ.
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A Korea National Oil Corporation official stated, "This week, international oil prices are on a downward trend due to factors such as the U.S. House of Representatives passing the infrastructure investment bill, the development of oral COVID-19 treatments, and increased demand for petroleum products in India."
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