The weekly average prices of gasoline and diesel at domestic gas stations fell for the fifth straight week.
According to Opinet, the oil price information system of the Korea National Oil Corporation (KNOC), on the 20th, the average retail price of gasoline at gas stations nationwide in the third week of June was 2,009.2 won per liter, down 0.7 won from the previous week.
By region, the gasoline price in Seoul was 2,051.2 won, down 0.3 won from the previous week, while Daegu, which posted the lowest price, was 1,989.6 won, down 1.0 won.
The average retail price of diesel was 2,004.1 won, down 0.7 won from the previous week.
International oil prices fell as implementation of the U.S.-Iran end-of-war MOU gained traction, but the decline was limited as Israel continued strikes on Lebanon. Dubai crude, the benchmark for imported oil, was $74.8 per barrel, down $13.6 from the previous week, and the international gasoline price was $103.6, down $12.5.
Meanwhile, the government on the 18th extended the sixth oil price cap. Accordingly, gasoline remains at 1,934 won per liter, diesel at 1,923 won, and kerosene at 1,530 won. The government plans to decide on the seventh cap after comprehensively reviewing progress in the U.S.-Iran war end negotiations and international oil prices.