Even as gas prices at stations nationwide have fallen for 12 straight weeks, gasoline and diesel remain in the 1,800-won range.
According to Opinet, the oil price information system of Korea National Oil Corporation (KNOC), the average retail price of gasoline at stations nationwide in the first week of Aug. was 1,866.2 won per liter. The average retail price of diesel was 1,849.2 won.
Gasoline and diesel prices fell by 2.9 won and 3.6 won per liter, respectively, from the previous week.
Gasoline was most expensive in Seoul at 1,909.1 won, and cheapest in Daegu at 1,840.6 won. By brand, GS Caltex stations were the highest at 1,869.2 won, while thrift stations were the lowest at 1,858.0 won.
The recent decline in domestic gasoline and diesel prices appears to be due to a drop in global oil prices. As expectations grew over talks between the United States and Iran on transit in the Strait of Hormuz, global oil prices fell.
Dubai crude, the benchmark for imported oil prices, fell $1.4 from the previous week to $79.5 per barrel. International gasoline and diesel prices also fell by $11 and $10.3, respectively, to $104.6 and $148.2.