This week, the weekly average prices of gasoline and diesel at domestic gas stations fell slightly for the third consecutive week.
According to the Korea National Oil Corporation (KNOC) oil price information system Opinet on the 31st, the average selling price of gasoline at nationwide gas stations for the fourth week of May (25th-29th) was 1,633.3 won per liter, down 2.5 won from the previous week.
By region, the price in Seoul, which was the highest, fell by 2.3 won to 1,705.4 won, while Daegu, which had the lowest price, recorded a decrease of 2.2 won to 1,595.1 won.
Among brands, SK Energy gas stations had the highest average price at 1,643.5 won per liter, while low-cost gas stations recorded the lowest average price of 1,600.5 won.
The average selling price of diesel recorded 1,498 won, down 3.1 won from the previous week. Based on the weekly average price, diesel has fallen below 1,500 won for the first time in over five months since the third week of December last year (1,497.5 won).
This week, international oil prices fell amid sustained market interest in the possibility of increased production by OPEC+ in July, alongside concerns about uncertainties regarding U.S. tariff policy.
The price of Dubai crude oil, which serves as a basis for import crude oil prices, was $64.2, down $0.3 from last week.
The international gasoline price increased by $0.2 to $75.7, while the international automotive diesel price fell by $0.3 to $79.5.
Changes in international oil prices are typically reflected in domestic gas station prices with a delay of about 2 to 3 weeks.
A Korea Petroleum Association (KPA) official noted, "International product prices and the won/dollar exchange rate are showing a downward trend, so domestic prices are also expected to continue a slight weakening next week."