<Anchor>

As the economy slows down, the demand for oil naturally decreases, but oil prices continue to fall as oil producers increase production. I even came to the gas station where the gasoline price was lowered to 1,200 won. It may be good right now, but it doesn't really help our economy from a distance.

This is reporter Kim Hye-min.

<Reporter>

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

The gasoline price of this gas station is 1,284 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 it's cheap, can you help?) Yes, it's helping a lot, right 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 gas stations across the country have been falling for 9 consecutive weeks.

In particular, over the past 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 Principal Researcher: In the transportation industry such as aviation and logistics, each country has contracted demand due to bans 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.

(Video coverage: Park Hyun-cheol, Video editing: Lee Seung-yeol)

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