Gasoline and diesel sales prices continued to decline this week.
However, from next year, the extent of the reduction in oil tax will be reduced, and gasoline prices are expected to turn upward again.
According to Korea National Oil Corporation's oil price information system Opinet, the average selling price of gasoline at gas stations nationwide in the fourth week of December was 1,526.9 won per L (liter), down 10.4 won from the previous week.
Gasoline prices have been falling for 16 weeks.
The average price of gasoline this week in Seoul, where the price of gasoline is the most expensive in Korea, was 1,612.6 won, and Daegu, the lowest price area, was 1,469.2 won.
The average selling price of diesel this week was 1,728.7 won per liter, down 22.7 won from the previous week.
Diesel selling prices fell for the sixth week in a row.
Gasoline prices, which have been on a downward trend, are expected to rise from next week.
This is because from January 1st of next year, the reduction in oil tax when purchasing gasoline will be reduced from 37% to 25%.
If this happens, the gasoline oil tax will rise by 99 won from the current 515 won per liter to 615 won.
The current 37% reduction in oil tax for diesel remains unchanged.
The Korea Petroleum Association predicted, "International gasoline prices have been on the rise since last week, and domestic gasoline prices will also rise from next week."
In addition, "International diesel prices are also rising, so the decline in domestic diesel prices is likely to slow down or turn to an upward trend next week," he added.
(Photo = Yonhap News TV capture, Yonhap News)