The average prices of gasoline and diesel at domestic gas stations slid for the third consecutive week, posting a bigger drop compared to the previous week.

According to the oil price information system Opinet run by the Korea National Oil Corporation(KNOC) on Saturday, the average price of gasoline in the second week of August fell by nine-point-eight won per liter on-week to one-thousand-696-point-eight won per liter.

This marks a return to the 16-hundred won range for the first time in five weeks after gasoline prices exceeded 17-hundred won in the second week of July.

The average price of diesel also fell by nine-point-three won per liter to one-thousand-534-point-five won. 

However, global oil prices rose this week due to positive U.S. economic indicators and ongoing geopolitical risks in the Middle East.

The Dubai crude, which serves as the country's standard for oil import prices increased by three-point-six dollars on-week to 79-point-one dollars per barrel.