KOR
▲ A gas station in Seoul on the 2nd
Gasoline and diesel prices at gas stations across the country both remained in the 1,800-won range this week as nationwide fuel prices fell for the 12th consecutive week.
According to Opinet, the oil price information system operated by the Korea National Oil Corporation, on the 8th, the average selling price of gasoline at gas stations nationwide for the first week of August (August 2 to 6) dropped 2.9 won from the previous week to 1,866.2 won per liter.
Seoul, which recorded the highest prices, saw a decrease of 1.0 won from the previous week to 1,909.1 won per liter, while Daegu, which had the lowest prices, dropped 3.8 won to 1,840.6 won per liter.
By brand, GS Caltex gas stations recorded the highest average price at 1,869.2 won per liter, while unbranded budget gas stations recorded the lowest at 1,858.0 won per liter.
The average selling price of diesel fell 3.6 won from the previous week to 1,849.2 won per liter.
International oil prices declined this week amid growing expectations of negotiations between the United States and Iran regarding passage through the Strait of Hormuz.
Dubai crude, the benchmark for imported crude oil, dropped $1.4 from the previous week to $79.5 per barrel.
International gasoline prices fell $11.0 to $104.6 per barrel, and international automotive diesel decreased $10.3 to $148.2 per barrel.
Changes in international oil prices typically take about two to three weeks to be reflected in domestic gas station prices.
Meanwhile, the government is maintaining oil price ceilings to minimize the impact of international oil price fluctuations on domestic prices.
On the 25th of last month, the government designated the 8th oil price ceiling at the same level as the 7th price ceiling.
The ceiling prices are set at 1,784 won per liter for gasoline, 1,773 won per liter for diesel, and 1,380 won per liter for kerosene.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.
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