South Korea Sees 14th Consecutive Fuel Price Drop

The price of fuel at gas stations in South Korea has fallen for the 14th consecutive week, according to the Korea National Oil Corporation's oil price information system. The average retail price of gasoline dropped by 1.7 won per liter from the previous week to 1,862.5 won. This decrease is part of an ongoing trend, with Seoul recording a price of 1,908.9 won per liter and Daegu recording the lowest at 1,835.6 won.

The average retail price of automotive diesel also fell by 1.4 won to 1,845.7 won. International oil prices rose due to supply uncertainties, including tensions between Iran and the UAE, but were limited by Saudi Arabia's expanded alternative supplies. Dubai crude, the benchmark for imported crude oil, increased by $3.2 to $91.8 per barrel.