Gasoline, Diesel Prices Rise for 5th Consecutive Week

Gasoline and diesel prices at domestic gas stations have risen for five consecutive weeks.

According to Opinet, Korea National Oil Corporation's (KNOC) oil price information system, the average gasoline selling price nationwide for the fifth week of April (April 26-30) was 2,008.6 won per liter, up 4.8 won from the previous week. The average diesel selling price recorded 2,002.8 won, an increase of 5.1 won compared to last week. Regionally, Seoul recorded the highest gasoline prices at 2,048 won, up 8.7 won from the previous week, while Daegu, with the lowest prices, saw an increase of 4.7 won to 1,993.6 won. This could increase the burden on citizens who use vehicles.

International oil prices rose due to U.S. President Donald Trump's policy to maintain a blockade of the Strait of Hormuz and the stalemate in U.S.-Iran ceasefire negotiations.