Gas prices at domestic gas stations stopped rising after seven weeks. Diesel prices are expected to fall again next week, but gasoline is forecast to be slightly weak.
According to Opinet, the oil price information system of the Korea National Oil Corporation (KNOC), on Dec. 13, the nationwide average retail price of gasoline in the second week of December (Dec. 7–Dec. 11) was 1,746.0 won per liter (ℓ), down 0.7 won from the previous week. During the same period, the average retail price of diesel fell 2.4 won to 1,660.5 won.
Retail prices of gasoline and diesel rose for six straight weeks from the fifth week of October, then turned downward in the second week of this month.
By region, Seoul had the highest gasoline price at 1,810.8 won per liter. Daegu, with the lowest price, was 1,719.1 won. By brand, thrifty gas stations had the lowest gasoline price at 1,724.7 won, while SK Energy gas stations were the highest at 1,753.4 won.
At domestic gas stations, gasoline prices are expected to be slightly weak, while diesel prices are expected to decline. International oil prices are typically reflected in domestic oil product prices after two to three weeks. International diesel has fallen for three straight weeks, while international gasoline has been alternating up and down every other week.