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In the aftermath of the Corona 19, international oil prices fell sharply due to the fighting between the leading oil producers Russia and Saudi Arabia.

In Korea, a gas station with a gasoline price of 1,195 won has appeared, but reporter Kim Hye-min reports on how this low oil price will affect our economy.

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Vehicles constantly arrive at a gas station in Gangseo-gu, Seoul.

The gasoline price of this gas station is 1284 won.

Drivers who want to use a vehicle for business or corona are driving to a cheaper place.

[Jin Jin-pyo / Gangseo-gu, Seoul: I am hesitant to use public transportation, and there is nothing wrong with it. I will try to use my car if possible. (If oil is cheap, can you help?) Yes. It's very helpful, now.]

Gasoline prices in domestic gas stations fell below 1,400 won per ℓ in one year after the oil tax cut in April last year.

Average gasoline prices across the country have been falling for 9 consecutive weeks.

In particular, over the last 20 days, it has dropped by more than 100 won.

International oil prices continue to plunge at the New York Mercantile Exchange, with crude oil from West Texas in India surpassing the $ 20 per barrel level in 18 years.

Still, experts say that low oil prices have little benefit for the domestic economy.

[Lee Kwang-Woo / LG Economic Research Institute Senior Researcher: In the transportation industry such as aviation and logistics, the demand for each country is shrinking due to the prohibition or isolation measures. It seems difficult to expect the effect of falling oil prices.]

Oil prices are expected to drop further as Saudi Arabia and Russia, which are playing a chicken game over the lead in the crude oil market, are predicting further increases.