"Like Scattering Money on the Road"... Gasoline and Diesel Prices Exceed 2,000 Won for Fifth Consecutive Week

Gasoline Up 4.8 Won and Diesel Up 5.1 Won in One Week

Gasoline and diesel prices at domestic gas stations have risen together for five consecutive weeks. The nationwide average gasoline price has remained above 2,000 won per liter, and diesel prices have also exceeded 2,000 won.

According to Opinet, the oil price information system of Korea National Oil Corporation, during the fifth week of April (April 26–30), the nationwide average retail price of gasoline at gas stations was 2,008.6 won per liter, up 4.8 won from the previous week.

Seoul Gasoline Prices Reach a Record High of 2,048 Won

On the 3rd of last month, a notice displaying gasoline and diesel prices was placed at a gas station in Yongsan-gu, Seoul. Photo by Dongju Yoon

By region, Seoul recorded the highest prices. The average retail price of gasoline in Seoul was 2,048 won per liter, up 8.7 won from the previous week.

The lowest price was found in Daegu, where the average price rose by 4.7 won to 1,993.6 won per liter.

By brand, SK Energy gas stations had the highest average price at 2,014.4 won per liter. Discount gas stations had the lowest average price at 1,990.9 won per liter.

The average retail price of diesel also increased.

During the fifth week of April, the nationwide average diesel price at gas stations was 2,002.8 won per liter, a rise of 5.1 won compared to the previous week.

International Oil Prices Surge Amid Stalemate in Iran Negotiations... Domestic Impact Expected in 2–3 Weeks

International oil prices also rose this week. This appears to be due to President Trump's decision to maintain the maritime blockade of the Strait of Hormuz and the deadlock in ceasefire negotiations between the United States and Iran.

The price of Dubai crude, the benchmark for imported oil, was 107.5 dollars per barrel, up 6.5 dollars from the previous week. The international price of gasoline rose by 7.3 dollars to reach 129.7 dollars, and international automotive diesel increased by 8.6 dollars to 172.4 dollars.

Changes in international oil prices are typically reflected in domestic gas station prices with a lag of about 2 to 3 weeks. The recent increase in international oil prices may further affect domestic gasoline and diesel prices in the future.

The Energy and Petroleum Market Watchdog, a consumer organization, announced that as of May 1—eight days after the fourth maximum price announcement—gasoline and diesel prices had risen by an average of 190.9 won and 188.8 won per liter respectively, compared to March 26, which was the day before the second maximum price announcement.

This content was produced with the assistance of AI translation services.