According to the Korea National Oil Corporation's oil price information service Opinet on the 23rd, the average nationwide gasoline sales price in the third week of October was 1,732.4 won per liter, up 45.2 won from the previous week.

As of this week, gasoline prices are the highest since the second week of November 2014 (1,735.6 won).

The national average price of gasoline the day before was 1,748 won, rising by 4.7 won in one day, drawing an upward trend.

Domestic gasoline prices have been on the rise for five consecutive weeks, and the weekly gasoline price per liter is increasing every week from 0.8 won → 1.9 won → 8.7 won → 28.3 won → 45.2 won.

In particular, the increase in gasoline prices this week was the largest since the fourth week of 2009 (61.9 won).

By region, the price of gasoline in Seoul, the highest-priced region, rose 36.0 won from the previous week to 1,808.6 won.

It is the first time in seven years since November 2014 that the price of gasoline in Seoul exceeded 1,800 won.

The selling price of diesel at gas stations nationwide also recorded 1,530.4 won per liter, up 46.8 won from the previous week.

International oil prices continued to rise.

The average price of Dubai oil, which is the standard for crude oil imported into Korea, was $83.2 per barrel, up by $1.0 from the previous week.

The international gasoline price rose by 2.6 dollars from the previous week to 98.0 dollars per barrel, and the international automobile diesel price rose by 0.9 dollars from the previous week to 97.7 dollars, respectively.

The Korea National Oil Corporation analyzed that "international oil prices are on the rise due to a decrease in US crude inventories, continued improvement in the labor market, and an upward revision of oil price forecasts by Morgan Stanley for next year."

As international oil prices, a leading indicator of domestic oil prices, are maintaining an upward trend, domestic gasoline prices are highly likely to rise further.  

(Photo = Yonhap News)

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