South Korean Fuel Prices Fall for 20th Straight Week

For the 20th consecutive week, domestic fuel prices in South Korea have decreased. According to Opinet, the oil price information system operated by the Korea National Oil Corporation, the average retail price of gasoline at gas stations nationwide was 1,857.6 won per liter as of October 3. This is a 0.4 won decrease from the previous week.

Seoul, which recorded the highest prices, saw a decrease of 0.2 won to 1,904.0 won, while Daegu, which had the lowest prices, dropped 0.3 won to 1,829.8 won.

The average retail price of diesel also decreased by 0.1 won compared to the previous week, standing at 1,843.3 won per liter.

This decline in fuel prices comes as international oil prices eased concerns over crude supply disruptions due to the recovery of Middle East crude exports and the restart of Saudi Arabia's East-West pipeline.