As the blockade of the Strait of Hormuz by the United States continues and gas prices at gas stations nationwide edge up, the nationwide gasoline price is nearing 2,000 won per liter (L).
According to Opinet, the oil price information system of the Korea National Oil Corporation (KNOC), as of 9 a.m. on the 15th, the nationwide average gasoline price at gas stations was 1,997.57 won per L, up 1.37 won from the same time the previous day. The nationwide average diesel price was 1,991.51 won, entering the 1,990-won range for the first time.
Prices in Seoul are also continuing to rise. As of 9 a.m., the gasoline price in Seoul was 2,027.49 won, up 0.92 won from the same time the previous day. The diesel price in Seoul was 2,013.15 won, up 0.84 won from the previous day.
The government is curbing price increases by enforcing a petroleum price ceiling system, but external supply uncertainties appear unable to halt the upward trend.