South Korea Gas Prices Fall for 15th Straight Week Amid International Price Volatility

Gas prices at service stations in South Korea have decreased for the 15th consecutive week, according to the oil price information system operated by the Korea National Oil Corporation.

The average selling price of gasoline fell 1.2 won per liter from the previous week to 1,861.3 won, with Seoul posting the highest average price at 1,907.8 won and Daegu recording the lowest at 1,834.2 won.

The average selling price of automotive diesel dropped 0.5 won from the previous week to 1,845.2 won per liter, while international oil prices were driven downward mid-week by expectations of the reopening of the Strait of Hormuz.