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Gas, Diesel Prices Rise for 2nd Week

Written: 2023-07-22 14:19:38Updated: 2023-07-22 14:28:49

Gas, Diesel Prices Rise for 2nd Week

Photo : YONHAP News

Gasoline and diesel prices have risen for the second week. 

According to oil price portal Opinet run by the Korea National Oil Corporation, the average price of gas sold at pumps nationwide rose eleven-point-five won to one-thousand-583-point-seven won per liter in the third week of July. 

The average price of diesel also jumped, climbing 12-point-eight won to one-thousand-394-point-nine won per liter.

This week, South Korea's benchmark Dubai crude edged up 30 cents to reach 80 dollars 30 cents a barrel. 

The rise in global oil prices is attributed to a dip in weekly stockpiles in the U.S., a surge in China's crude oil imports for the month of June and expectations of Britain easing up on monetary tightening. 

An official at the Korea Petroleum Association said that global prices are on the rise with the start of the summer driving season in the U.S. and that domestic fuel costs are expected to follow suit in the immediate future.

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