As of 10 a.m. on the 13th Eastern Time (11 p.m. on the 13th Korea time), as the United States began a counter-blockade of the Strait of Hormuz, through which about 20% of the world's crude oil and gas shipments pass, nationwide fuel prices rose slightly from the previous day.
According to Opinet, the oil price information system of the Korea National Oil Corporation (KNOC), as of 9 a.m. on the 13th, the nationwide average gasoline price at gas stations was 1,996.19 won per liter (L), up 2.4 won from the same time the previous day. At the same time, the nationwide average diesel price was 1,989.83 won, up 2.41 won from the previous day. Compared with 9 a.m. the previous day, when gasoline and diesel rose 1.49 won and 1.62 won, respectively, the increase widened slightly.
Seoul-area fuel prices are also maintaining a slight upward trend. The average gasoline price in Seoul was tallied at 2,026.57 won, up 1.42 won from the same time the previous day. The average diesel price in Seoul rose 1.51 won to 2,012.31 won.
Under the currently applied petroleum price ceiling, the third-tier price sets the gasoline supply price at 1,934 won per liter and diesel at 1,923 won. However, with cease-fire talks between the United States and Iran breaking down and the United States moving to blockade the Strait of Hormuz, international oil prices have begun to rise again, acting as a factor pushing up domestic fuel prices.