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Gasoline Prices Down for 7th Week but Decrease Waning

Write: 2019-07-20 13:27:51Update: 2019-07-20 13:42:30

Gasoline Prices Down for 7th Week but Decrease Waning

Photo : YONHAP News

Gasoline prices in South Korea have fallen for seven weeks, but the weekly decrease has become significantly smaller.

According to Opinet, an oil price information website run by the Korea National Oil Corporation, the average national price of regular gasoline fell zero-point-seven won per liter to one-thousand-490-point-four won in the third week of July.

The weekly price drop was slight compared to much steeper declines in the past weeks.

The average price of diesel also fell a mere one-point-five won per liter to one-thousand-351-point-seven won this week. 

Both gasoline and diesel prices appear to be at a steady level. 

The cost of butane, which is fuels cars running on liquefied petroleum gas, also edged down one-point-one won per liter to 795-point-seven won.
 
An official at the National Oil Corporation said global oil costs have stabilized amid mixed factors pulling prices in both ways, including increased inventory of oil products in the U.S. and a drop in U.S. crude oil production.

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