"It’s scary to fill up"… Gasoline in the 1,942-won range, diesel in the 1,937-won range, both 'rising'

Source
Korea Economic Daily

Summary

  • It said that domestic gasoline and diesel prices are rising in tandem due to the fallout from the Middle East war.
  • It noted that the nationwide average gasoline price was 1,946.42 won and diesel 1,937.19 won, with Jeju and Seoul forming relatively high price ranges.
  • It said the industry expects strong upward pressure on domestic fuel prices for the time being due to higher international oil prices and the impact of the exchange rate.

Forecast Trend Report by Period

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Photo=Shutterstock
Photo=Shutterstock

Domestic gasoline and diesel prices are rising in tandem in the wake of the Middle East war. In particular, the average gasoline price in Jeju has topped the 2,000-won-per-liter (L) level.

According to Opinet, the Korea National Oil Corporation’s oil price information system, as of 9 a.m. on the 5th the nationwide average gasoline price stood at 1,946.42 won, up 3.98 won from the previous day.

By region, Jeju was the highest at 2,004 won, followed by Seoul (1,984 won) and North Chungcheong Province (1,958 won). Busan (1,919 won) and Ulsan (1,921 won), meanwhile, were relatively lower.

The nationwide average diesel price was also up 3.71 won from the previous day to 1,937.19 won. Diesel prices were likewise high in Jeju (1,978 won) and Seoul (1,960 won).

With both gasoline and diesel posting a steady uptrend, Seoul in particular was seen to be rising faster than the national average.

The industry expects domestic fuel prices to face strong upward pressure for the time being as higher international oil prices and the exchange rate are reflected.

Reporter Park Sang-kyung, Hankyung.com highseoul@hankyung.com

Korea Economic Daily

Korea Economic Daily

hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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