Gasoline Prices at Gas Stations Fall for 12 Consecutive Weeks... Diesel Returns to 1,400 Won Range After 5 Months

Gasoline down 5.9 won, Diesel down 9.4 won

The prices of gasoline and diesel sold at domestic gas stations have fallen for 12 consecutive weeks.

On the 30th, the Korea National Oil Corporation's oil price information system, Opinet, announced that the average gasoline selling price at gas stations nationwide in the fourth week of December (24-28) recorded 1,582.6 KRW per liter, down 5.9 KRW from the previous week.

By region, Seoul, where gasoline prices are the highest nationwide, fell 3.5 KRW from the previous week to 1,658.6 KRW, while Daegu, where prices are the lowest, dropped 3.1 KRW to 1,533.1 KRW. By brand, SK Energy gas stations had the highest price at 1,591.4 KRW, and discount gas stations had the lowest at 1,555.5 KRW.

The diesel selling price was recorded at 1,500.1 KRW, down 9.4 KRW from the previous week. On a daily basis, the diesel price dropped to 1,499.03 KRW on the 27th, falling into the 1,400 KRW range for the first time in about five months since August 5 (1,496.74 KRW).

This week, international oil prices rose due to threats to Red Sea logistics by Yemen's Houthi rebels and expectations of a US interest rate cut. Dubai crude, the benchmark for imported crude oil prices, rose $1.3 per barrel from the previous week to $79.3. However, international gasoline prices fell by $0.2 to $88.6, while automotive diesel rose by $0.7 to $100.8. Changes in international oil prices are typically reflected in domestic gas station prices about two weeks later.

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