A gas station in Seoul. [Yonhap]
A gas station in Seoul. [Yonhap]

Fuel prices at gas stations across South Korea fell for the 13th consecutive week, keeping both gasoline and diesel in the mid-1,800-won range per liter.

According to Opinet, the oil price information system run by the Korea National Oil Corp., the national average retail price of gasoline during the second week of August (Aug. 9–13) slipped 2.1 won from the previous week to 1,864.1 won per liter.

Seoul posted the highest average at 1,909.8 won, up 0.7 won from the week before, while Daegu recorded the lowest at 1,837.6 won, down 3 won.

By brand, GS Caltex stations were the most expensive at 1,867.2 won per liter, while budget "altteuljuyuso" discount stations were the cheapest at 1,855.4 won.

The national average diesel price fell 2.2 won from the previous week to 1,847 won per liter.

International crude prices rose this week, as stalled US-Iran negotiations coincided with a series of attacks on oil facilities in the Middle East and Russia.

Dubai crude, the benchmark for South Korea's oil imports, climbed $8.90 from the previous week to $88.70 per barrel. International gasoline prices rose $6.60 to $111.50 per barrel, while international diesel prices rose $10.80 to $159.20 per barrel.

Changes in international crude prices typically take two to three weeks to feed through to domestic pump prices.


ehkim@heraldcorp.com