Gasoline Price Rises by 5.3 Won to 1,665.1 Won... Diesel Falls for the First Time in 3 Weeks

by Kang Nahum

Published 29 Apr.2023 08:54(KST)

[Image source=Yonhap News]

This week, the domestic gasoline sales price at gas stations slightly increased, while the diesel sales price decreased.

According to the Korea National Oil Corporation's oil price information system OPINET on the 29th, the average gasoline sales price nationwide at gas stations for the fourth week of April (23?27) was 1,665.1 KRW per liter, up 5.3 KRW from the previous week. Gasoline prices have been rising for four consecutive weeks on a weekly basis.

The average gasoline price this week in Seoul, the region with the highest domestic price, rose by 5.2 KRW to 1,749.1 KRW, while Daegu, the region with the lowest price, fell by 3.6 KRW to 1,634.1 KRW.

By brand, GS Caltex gas stations were the most expensive at 1,675.2 KRW per liter, and budget gas stations were the cheapest at 1,632.3 KRW.

The average diesel sales price this week was 1,619.7 KRW, down 24.4 KRW from the previous week. After rising for two consecutive weeks, it turned to a downward trend this week.

This week, international oil prices fell due to factors such as ExxonMobil's resumption of operations at its Nigerian oil export terminal, weaker-than-expected U.S. first-quarter economic growth, and renewed financial instability caused by troubles in the U.S. banking sector.

The average price of Dubai crude, the benchmark for imported crude oil prices, was $80.5 per barrel this week, down $2.8 from the previous week.

The international average gasoline price was $90.9, down $3.5, and the international automotive diesel price was $94.6, down $2.5.