The national gasoline and diesel prices, which had soared every day, stopped for the first time in nine weeks.
According to the Korea National Oil Corporation, the average selling price of gasoline at gas stations nationwide in the first week of July was 2,116.8 won per liter, down 20.9 won from the previous week.
Gasoline prices rose for eight consecutive weeks from the first week of May, and then stopped rising this month as the fuel tax cut increased from 30% to 37%.
The average price of gasoline this week in Seoul, the highest-priced region in Korea, is 2,167.8 won per liter, down 38.8 won from last week, and Daegu, the lowest-priced region, at 2,86.5 won, down 20.9 won from last week.
By brand, SK Energy gas station was the most expensive with an average of 2,125.4 won per liter, and thrifty gas station was the cheapest with 2,80.9 won per liter.
Like gasoline, domestic diesel prices also stopped rising for the first time in nine weeks.
The average price of diesel this week was 2,150.4 won per liter, down 7.8 won from last week.
Domestic gasoline and diesel prices are expected to decline next week as there is a time lag of one to two weeks until the fuel tax cut is fully reflected in the actual gas station sales price.
(Photo = Yonhap News)