Gasoline Prices Fall Below 1,900 Won for First Time in Two Months Following Price Cap Cut

Domestic gas station fuel prices have fallen below 2,000 won per liter for the first time in about two months.

As of 9:00 a.m. today (June 28), the average retail price of gasoline at gas stations nationwide was 1,991 won per liter, while diesel was 1,982 won per liter.

This decline is attributed to the government's decision to lower the maximum price of petroleum products by 150 won per liter, effective from 12:00 a.m. yesterday, in response to the recent drop in international oil prices.

Considering factors such as existing inventory, retail prices at gas stations are expected to decrease gradually over the next two to three weeks.

※