Photo : YONHAP News
The average prices of gasoline and diesel both fell for the tenth consecutive week.
According to the Korea National Oil Corporation’s(KNOC) price information system Opinet on Saturday, the average price of gasoline dropped 12-point-eight won on-week to one-thousand-587-point-six won per liter, or one U.S. dollar and 18 cents, in the first week of October.
This marks the first time that the average weekly price has gone below one-thousand-600 won per liter in 33 weeks.
The average price of diesel also fell 14-point-nine won to one-thousand-420-point-three won per liter.
Global oil prices were down this week due to weak economic data from China and Europe, although the scope of decline was limited amid escalating tensions in the Middle East.
The Dubai crude, which serves as South Korea’s benchmark, was 73 dollars and 40 cents per barrel, down 40 cents from the previous week.