Domestic gasoline and diesel prices fall for 11 consecutive weeks... Price incre

The weekly average price of gasoline and diesel at domestic gas stations has recorded a decline for the 11th consecutive week.

However, due to the rise in international oil prices and fluctuations in the exchange rate, prices are expected to increase starting next week.

According to Opinet, the Korea National Oil Corporation’s oil price information system, the national average selling price of gasoline at gas stations during the second week of October (October 6–10) was 1,585.4 KRW per liter, down 2.2 KRW from the previous week.

By region, Seoul had the highest price, at 1,653.3 KRW, down 2.1 KRW from the previous week.

On the other hand, Daegu was the cheapest region, recording 1,547.6 KRW, though it rose by 1.2 KRW compared to the previous week.

The cheapest gas stations were discount gas stations, with an average gasoline price of 1,557.4 KRW per liter.

The average selling price of diesel also dropped by 3.8 KRW per liter to 1,416.6 KRW.

However, international oil prices showed an upward trend this week.

Geopolitical risks in the Middle East and concerns over oil supply disruptions due to hurricanes in the U.S. were identified as the causes.

Dubai crude, which is the benchmark for imported oil, rose by 3.6 USD from the previous week to 77.9 USD per barrel, while international gasoline prices increased by 4.5 USD to 82.6 USD, and diesel prices rose by 4.8 USD to 91.4 USD.

As fluctuations in international oil prices are usually reflected in domestic prices 2 to 3 weeks later, the Korea Petroleum Association stated that domestic gas station prices are likely to rise starting next week.

It is particularly expected that the increase in diesel prices will be greater than that of gasoline.


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Domestic gasoline and diesel prices fall for 11 consecutive weeks... Price increase expected from next week