Business · Energy & Commodities · 5 hrs ago
South Korean fuel prices edge down for 26th week but remain nearly flat
Petrol and diesel prices in South Korea fell slightly for a 26th week in the week to Nov.
12, but have barely moved in recent months.
The average price of petrol was 1,855.1 won per litre, while diesel averaged 1,841.8 won.
Weekly drops have stayed below one won per litre for both fuels in recent weeks.
International oil prices fell as concerns about supply disruptions in the Middle East eased amid expectations that the United States would avoid further military action against Iran.
Changes in international oil prices usually take two to three weeks to affect prices at South Korean fuel stations.
The government kept its fuel price caps unchanged at 1,784 won per litre for petrol and 1,773 won for diesel.
The caps apply for four weeks from Nov.
14, while the recent fall in global prices may take time to show up at local pumps.
South Korean petrol prices fell for a 26th consecutive week, but the decline was just 0.4 won per litre.
The average petrol price was 1,855.1 won per litre in the second week of November, while diesel averaged 1,841.8 won.
Both prices have moved down by less than 1 won per litre per week in recent months.
International oil prices fell as concerns about supply disruptions in the Middle East eased.
The government kept its maximum prices for petrol, diesel and kerosene unchanged for four weeks from November 14.
- Who
- South Korean motorists and fuel retailers.
- What
- Average petrol and diesel prices edged down for a 26th consecutive week but remained nearly flat.
- When
- The figures cover November 8–12, the second week of November 2026.
- Where
- Nationwide in South Korea.
- Why
- International oil prices fell as expectations that the United States would refrain from further military action against Iran eased concerns about Middle East oil supply disruptions.
This story does not have two clearly opposing sides.
Diesel price declines began staying below 1 won per litre each week.
Petrol price declines began staying below 1 won per litre each week.
Average petrol and diesel prices fell by 0.4 won and 0.2 won per litre, respectively.
The government set maximum prices at the same levels as in the previous four-week period.
The unchanged maximum prices took effect for four weeks.
- Petrol price
- 1,855.1 won per litre, down 0.4 won from the previous week
- Diesel price
- 1,841.8 won per litre, down 0.2 won from the previous week
- Highest-priced city
- Seoul, at 1,900.2 won per litre for petrol
- Lowest-priced city
- Daegu, at 1,826.9 won per litre for petrol
- Dubai crude
- $89.0 per barrel, down $10.5 from the previous week
- Maximum petrol price
- 1,784 won per litre for four weeks from November 14