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Avg. Prices of Gasoline, Diesel Rise for 5th Consecutive Week

Written: 2024-11-16 14:53:46Updated: 2024-11-16 15:07:14

Avg. Prices of Gasoline, Diesel Rise for 5th Consecutive Week

Photo : KBS News

The average prices of gasoline and diesel both increased for the fifth consecutive week.

According to the Korea National Oil Corporation's(KNOC) price information system Opinet on Saturday, the average price of gasoline rose 15-point-eight won on-week to one-thousand-629-point-one won per liter, or one U.S. dollar and 17 cents, in the second week of November.

The average price of diesel also surged 17-point-eight won to one-thousand-459-point-five won per liter.

International oil prices fell this week as the greenback continued to gain strength and the Organization of the Petroleum Exporting Countries(OPEC) revised down its outlook for global oil demand.

While changes in international oil prices are usually reflected in domestic gas prices after about two to three weeks, an official at the KNOC expected the price increase to slow down by the end of this month.

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