Gas station gas prices have fallen for 26 weeks... Virtually in place for two months

Gas prices at gas stations across the country have fallen for 26 consecutive weeks, but the decline over the past two to three months has been minimal and has virtually remained stagnant.

According to Korea National Oil Corporation's oil price information system Offinet on the 14th, the average selling price of gasoline at gas stations nationwide in the second week of November (8th to 12th) was 1,855.1 won per liter, down 0.4 won from the previous week.

Gasoline prices have been falling by less than 1 won per liter every week since the third week of September.

Seoul, with the highest price, was 1,900.2 won, down 0.1 won from Jeonju, and Daegu, the lowest, was 1,826.9 won, up 0.1 won.

By brand, GS Caltex gas stations had the highest price at 1,858.1 won, and thrifty gas stations had the lowest price at 1,845.7 won.

The average selling price of diesel was 1,841.8 won, down 0.2 won from the previous week. Diesel prices have also been falling at less than 1 won per liter every week since the fourth week of August.

International oil prices fell this week as concerns about crude oil supply disruptions in the Middle East eased amid speculation that the United States would refrain from further military action against Iran.

Dubai oil, the standard for the price of imported crude oil, was $89.0 per barrel, down $10.5 from the previous week.

The international gasoline price decreased by $8.6 per barrel to $102.9, and the international automobile diesel price decreased by $12.2 to $151.1.

Changes in international oil prices are usually reflected in domestic gas station prices with a lag of 2 to 3 weeks.

The government maintains the maximum price of oil to reduce the impact of international oil price fluctuations on domestic prices.

The government set the 12th highest oil price the previous day at 1,784 won for gasoline, 1,773 won for diesel, and 1,380 won for kerosene per liter, the same as the 11th. This price applies for 4 weeks starting on the 14th.