Gasoline and diesel prices at domestic gas stations fell slightly from a week earlier, extending a six-week decline.
According to Opinet, the oil price information system of the Korea National Oil Corporation (KNOC), the national average retail price of gasoline at gas stations in the third week of September (15–18) was 1,659.5 won per liter, down 0.2 won from the previous week.
By region, Seoul, which had the highest prices, recorded 1,720.2 won, down 0.5 won from a week earlier, while Daegu, with the lowest prices, came in at 1,627.9 won, down 1.5 won, respectively.
By brand, SK Energy gas stations were the most expensive at an average of 1,669.5 won per liter, while thrifty gas stations were the cheapest at 1,632.7 won.
The average retail price of diesel was 1,530.1 won, down 0.1 won from the previous week.
This week, international oil prices rose on concerns about reduced global oil market supply following the Federal Reserve's interest rate cut and Ukraine's attacks on Russia's oil infrastructure.
Dubai crude, the benchmark for import oil prices, was $70.6, up $0.7 from a week earlier.
International gasoline prices were $81.1, up $1.8 from the previous week, and international automotive diesel prices were $89.4, up $0.8, respectively.
Changes in international oil prices are typically reflected in domestic gas station prices with a lag of about two to three weeks.
An official at the Korea Petroleum Association (KPA) said, "International gasoline and diesel prices rose slightly amid stability, but the exchange rate fell," adding, "Domestic gas station prices are expected to remain stable and flat next week."