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Local Gas Prices Rise for 7th Week

Written: 2021-06-19 13:53:09Updated: 2021-06-19 17:07:09

Local Gas Prices Rise for 7th Week

Photo : YONHAP News

Local gas prices have risen for a seventh straight week.

According to Opinet, an oil price information website run by the Korea National Oil Corporation, the average price of regular gasoline nationwide rose eleven-point-seven won to reach one-thousand-576-point-two won per liter in the third week of June.

The weekly increase appears to be widening and the upward trend is expected to continue for the time being, amid climbing global oil costs. It normally takes about two to three weeks for global prices to be reflected at home.

By region, gas prices in Seoul were the highest this week at over one-thousand-659 won, 83 won higher than the national average. Daegu had the lowest prices, at just under one-thousand-550 won.

The price of diesel also jumped eleven-point-nine won to over one-thousand-373 won per liter.

Dubai crude, which South Korea mainly imports, rose a dollar 90 to 72 dollars 20 cents a barrel, while the average price of gasoline around the world gained a dollar 60 cents to just over 79 dollars.

The Korea National Oil Corporation said that global prices are on the rise due to reduced stockpiles in the U.S., rising demand in Asia and price increases projected by major oil traders.

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