Gasoline prices across the nation's gas stations fell for the 10th week in the wake of the Corona 19 crisis and the drop in international oil prices.

International oil prices, which had recently declined, once rebounded, suggesting the possibility of Trump's cut-off agreement between Russia and Saudi Arabia, but the prospect for further increases will be limited.

According to the Korea Petroleum Corporation's oil price information service opinet, the gasoline price of gas stations nationwide in the first week of this month was 1,391.6 won per ℓ, down 38.9 won from last week.

Gasoline prices reached 1,300 won per ℓ for the first time since early April last year.

This is a decrease of 128 won compared to 1,519.5 won per ℓ a month ago.

Diesel prices also fell for 11 consecutive weeks, recording KRW 199.6 per ℓ, down 39.6 won from last week.

Diesel prices have been the lowest since October 2016.

The fall in oil prices is the result of the so-called 'oil price war' between Saudi Arabia and Russia and the international oil price crash.

In the refining industry, gas prices are expected to drop further in the next two weeks, as international oil prices are reflected in Korea with a time difference of 2-3 weeks.

International oil prices continued to fall this week.

The price of Dubai oil imported by Korea is $ 22.4 per barrel, down $ 3.50 from last week.

The price of Dubai oil, which was $ 64.3 a barrel in January, fell below $ 30 in the third week of last month, and fell to $ 22 this week.

International oil prices rose on Thursday, after President Trump posted a tweet saying "Russia and Saudis expect to cut 10 million to 15 million barrels", and Western Texas crude oil surged to 35% on the market and Brent oil to 47%. I did it.

But Trump's claim was unrealistic and declined.

Even if production is cut as President Trump mentioned, the industry believes that the decline in oil prices will be limited due to a sharp drop in crude oil demand due to the global pandemic.

(Photo = Yonhap News)