Prices of the nation's petroleum products have sharply dropped after posting record highs for five straight weeks.

The Korea National Oil Corporation said Sunday that it had surveyed 556 gas stations nationwide, and found that the price of regular unleaded gas last week went down four won per liter from the previous week to post 1,373 won per liter.

Light oil price also saw a drop of 1.7 won per liter to 876 won, the first decline after nine weeks of increase prompted by soaring international oil prices.