Prices of gasoline rose while that of diesel fell this week. 

According to oil price portal Opinet run by the Korea National Oil Corporation, the average price of gas sold at pumps nationwide rose eight-point-three won to one-thousand-575-point-six won per liter in the first week of February.

The average price of diesel fell four-point-four won to one-thousand-647-point-eight won per liter this week.

Diesel prices are on an eleven-week decline. Still, the price gap between diesel and gasoline, which at one point was over 200 won, has narrowed to 64 won as of 5 p.m. Friday.

The agency attributed the narrower difference to the fuel tax cut on gasoline that the government slashed to 25 from 37 percent at the start of the year.

Meanwhile, global oil prices, after climbing for four consecutive weeks, are down this week amid continued interest rate hikes and increased U.S. inventory due to a drop in exports. 

The Dubai crude, South Korea's benchmark, fell by a dollar 60 cents to 82 dollars per barrel this week.