Business · Energy & Commodities · 5 hrs ago
South Korean petrol prices fall for 23rd straight week
Average petrol and diesel prices at South Korean petrol stations fell for a 23rd week in a row during the week of October 18 to 22.
Petrol averaged 1,857.1 won per litre, while diesel averaged 1,842.5 won.
The domestic declines came even as international oil prices rose amid Middle East tensions and concerns about possible supply disruptions.
Dubai crude, a benchmark for imported oil, rose to $111.1 a barrel, while international diesel prices also increased.
Changes in global oil prices usually reach local pumps after two to three weeks, so the recent rise could affect prices later.
To limit the impact on consumers, the government kept its maximum fuel prices unchanged at 1,784 won per litre for petrol and 1,773 won for diesel.
South Korean petrol prices fell for a 23rd consecutive week, according to data from the Korea National Oil Corporation.
The average petrol price was 1,857.1 won per litre in the third week of October, down 0.5 won from the previous week.
The average diesel price fell 0.3 won to 1,842.5 won per litre.
International oil prices rose during the week amid heightened tensions in the Middle East.
- Who
- South Korean petrol stations.
- What
- Average petrol and diesel prices fell for a 23rd straight week.
- When
- The third week of October, from October 18 to 22.
- Where
- South Korea.
- Why
- Not stated.
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- Petrol price
- 1,857.1 won per litre
- Weekly petrol change
- Down 0.5 won per litre
- Diesel price
- 1,842.5 won per litre
- Weekly diesel change
- Down 0.3 won per litre
- Highest-priced region
- Seoul, 1,902.3 won per litre
- Lowest-priced region
- Daegu, 1,828.0 won per litre