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Korea National Oil Corporation “Influence of international oil prices on the rise for 2 consecutive weeks”
Oil prices at gas stations nationwide continued to rise for the second consecutive week. Notably, this week, the volatilization price hike jumped to 8 won.
According to the Korea National Oil Corporation’s Oil Price Information Service Opinion on 5, the nationwide gasoline selling price in the first week of December recorded 1327.0 won per liter, up 8.2 won from to last week.
Gasoline prices remained unchanged in July-August and fell in September, but rebounded last week after 14 weeks, climbing again.
Last week, the increase was only 1.4 wins, but this week it increased to 8.2 wins.
International fluctuations in oil prices are reflected in Korea with a delay of 2-3 weeks. International oil prices are rising due to recent expectations for a Corona 19 vaccine development, and domestic oil prices are also rising.
Gasoline prices in Seoul, the nation’s highest-priced area, were 1414.4 won per liter, up 6.7 won from last week. The price of gasoline in Daegu, the area with the lowest price, rose 9.7 won to 1295.1 won per liter.
By brand, gasoline prices at SK service stations were the most expensive with an average of 1336.1 won per liter. Gasoline at a cheap gas station was the cheapest at 1295.5 won per liter.
The price of diesel at gas stations nationwide was 1127.2 won per liter, up 8.5 won from last week. International oil prices continue to rise, expecting domestic oil prices to rise further for the time being.
The price of Dubai oil, which is the standard for imported crude in Korea, has risen by $ 0.6 from last week to $ 47.4 a barrel. International gasoline prices also rose by $ 0.4 to $ 49.2 a barrel, touching the $ 50 break.
Korea Petroleum Corporation said: “The international oil price is resolved with the resumption of negotiations for further support from the United States, the approval of the emergency use of the Corona 19 vaccine and the decision on the extent of the cuts. to production by OPEC +, a consultation between the Organization of Petroleum Exporting Countries (OPEC) and major non-OPEC oil producing countries. As inventories declined, it has maintained an uptrend. ” Ⓒ Safe times
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