This week, the weekly average prices of gasoline and diesel at domestic gas stations have risen again. The upward trend has continued for nine consecutive weeks.
According to the Korea National Oil Corporation's Oil Price Information System (Ophinet) on the 14th, the average selling price of gasoline at nationwide gas stations for the second week of December (Dec. 8-12) recorded an increase of 4.3 won per liter (L) compared to the previous week, reaching 1,646.2 won.
Seoul, which has the highest prices, saw an increase of 1.3 won to 1,708.5 won, while Daegu, which has the lowest prices, recorded an increase of 4.3 won to 1,613.9 won. The cheapest brand was the low-cost gas station, with an average price of 1,617.9 won per L. The average selling price of diesel was recorded at 1,489.2 won, reflecting an increase of 6.9 won per L.
This week, international crude oil prices rose due to expectations of a rate cut by the U.S. Federal Reserve in December and instability in the Middle East. The price of Dubai crude, which is the benchmark for imported crude oil, was up by $0.1 from the previous week to $72.3. International gasoline prices rose by $0.7 to $81.6, while international diesel prices increased by $0.6 to $87.8.