Both gasoline and diesel prices continue to fall. 

According to oil price portal Opinet run by the Korea National Oil Corporation, the average price of gas sold at pumps nationwide fell six-point-six won to one-thousand-575-point-eight won per liter in the third week of June, marking a decline for the eighth straight week.

The price of diesel also dropped eight-point-seven won to one-thousand-387-point-six won per liter, marking the ninth week of a downward trend.

Meanwhile global oil prices rose this week amid a dip in weekly commercial crude oil stockpiles in the U.S. and the European Union's new package of sanctions on Russia.

South Korea's benchmark Dubai crude gained three dollars 50 cents to reach 77 dollars per barrel. 

Pundits speculate prices at home could rebound in about two weeks considering the time it takes for global prices to be reflected domestically.