Oil Prices Slightly Decrease... Gasoline Down 2.8 Won, Diesel Down 3.6 Won

Domestic gasoline and diesel prices at gas stations fell simultaneously.

Photo by Yonhap News

According to the Korea National Oil Corporation's oil price information system Opinet on the 8th, the average gasoline selling price at gas stations nationwide in the first week of this month (2nd to 6th) recorded 1,569.2 KRW per liter, down 2.8 KRW from the previous week.

Gasoline prices have fallen for 10 consecutive weeks on a weekly basis.

The average gasoline price this week in Seoul, the region with the highest domestic price, was 1,639.4 KRW, down 1.8 KRW from the previous week, while Daegu, the region with the lowest price, was 1,532.6 KRW, down 2.0 KRW.

By brand, GS Caltex gas stations were the most expensive at 1,578.2 KRW, and budget gas stations were the cheapest at 1,540.5 KRW.

The diesel selling price was recorded at 1,379.1 KRW, down 3.6 KRW from the previous week. Diesel prices have been declining for 11 consecutive weeks.

This week, international oil prices rose due to reasons such as a weekly decrease in U.S. oil inventories and voluntary production cuts by OPEC Plus, a consultative group of OPEC and non-OPEC oil-producing countries.

The average price of Dubai crude, the benchmark for imported crude oil prices, this week was $75.8 per barrel, up $0.6 from the previous week.

The international average gasoline price was $84.9, down $1.3, and the international automotive diesel price was $93.4, up $1.0.

An official from the Korea Petroleum Association analyzed, "Domestic petroleum product prices are likely to show a slight downward trend next week as well," adding, "International diesel prices showed an upward trend this week, indicating the possibility of a rebound later."

This content was produced with the assistance of AI translation services.