Gasoline prices continue to decline for a fourth consecutive week.

According to oil price portal Opinet run by the Korea National Oil Corporation, the average price of gas at the pump nationwide fell 30-point-nine won to one-thousand-674 won per liter in the first week of October.  

The price of diesel also dropped 18-point-six won to one-thousand-817-point-eight won per liter, continuing a downward trend for the third week in a row.

Meanwhile, global oil prices shot up this week following an OPEC Plus decision to cut production amid the depreciation of the U.S. dollar.

However as it typically takes about two to three weeks for global prices to be reflected domestically, lower prices are expected next week as well.