Seoul Gasoline Prices Break 2,000 Won, Stations Report Sell-outs

As international oil prices continue to rise due to instability in the Middle East, gasoline prices at Seoul gas stations have surpassed 2,000 won per liter.

As prices climb, vehicles are flocking to some gas stations, leading to fuel shortages. One gas station in Yeongdeungpo-gu, Seoul, which had been selling gasoline and diesel at 1,897 won per liter, saw its entire stock depleted today. The station experienced a surge of vehicles because it was more than 100 won cheaper per liter than the Seoul average.

The burden of rising fuel costs is impacting daily consumption. Kang Jae-hee, a resident of Gwanak-gu, Seoul, said, "Filling up usually cost 70,000 to 80,000 won, but now it's well over 100,000 won. I can't just drive around carelessly anymore.”

Gas stations that have sold off their cheaper inventory are gradually raising their prices, and stations selling below 1,900 won are rapidly disappearing in Seoul. Jang Dong-won, a gas station owner, stated, "The supply cost is 1,934 won per liter for gasoline, so we cannot sell it at 1,790 or 1,850 won. We are operating at a loss even in this state.”