Gasoline Prices Unmoved Despite Rise in International Oil Prices

Despite international oil prices rising by $5 per barrel (the standard unit of crude oil trading), domestic gasoline prices fell by just 0.1 won per liter. According to Opinet, the Korea Petroleum Price Information System run by the Korea National Oil Corporation, the national average retail price of gasoline for the first week of October (October 4–10) stood at 1,857.5 won per liter, a slight decline from the previous week. Diesel for the same week held steady at 1,843.3 won per liter, unchanged from the week before.

International oil prices rose, driven by upward pressure on the crude market as the war in the Middle East became prolonged. As of October 8, Dubai crude was priced at $110.7 per barrel, up $5 from $105.7 on October 6, the cheapest point of the week.

Regional price gaps were also pronounced. Seoul had the most expensive gasoline in the country at an average of 1,903.3 won per liter, while Daegu was the cheapest at 1,829.3 won. Diesel followed the same pattern: Seoul was highest at 1,886 won per liter, and Daegu lowest at 1,814.9 won.

By brand, NH-OIL was the most expensive, with gasoline at 1,863.1 won and diesel at 1,854.1 won per liter. In contrast, self-operated discount gas stations were the cheapest, offering gasoline at 1,822 won and diesel at 1,805.9 won per liter.