Korean gasoline prices rose for eight consecutive weeks, and the national average price exceeded 1,900 won per liter

According to Korean media reports, affected by geopolitical tensions, international oil prices have soared, and the price of gasoline in South Korea has risen
for eight consecutive weeks.

According to Opinet, the Korea Petroleum Corporation's oil price information service website, gasoline prices at gas stations rose 97.
6 won in the second week of March from the previous week to 1,861.
6 won per liter
.
Although the average price for the week did not exceed 1,900 won, the price in the Seoul area exceeded 2,000 won (about 10.
27 yuan) per liter in the second half of the week, and more than 1,900 won per liter
nationwide.
This is the second time that the national gasoline price has exceeded 1,900 won
in eight years and five months since the third week of October 2013.

Dubai oil prices, the benchmark for South Korean crude oil prices, reached $122.
8 a barrel this week, up $16.
6 from the previous week
.
Although international oil prices have corrected this week, it will take at least 2-3 weeks to reflect domestic oil prices, and it is expected that South Korea's domestic oil prices will continue to rise
.

The report pointed out that South Korea's domestic gasoline prices fell for nine consecutive weeks after the implementation of the fuel tax reduction measures in mid-November 21, and rebounded
again at the beginning of this year.
In particular, due to the recent geopolitical situation, international oil prices have risen sharply, and the increase in domestic gasoline prices has further expanded, exceeding the average price of 1,810 won
before the implementation of the fuel tax reduction on November 11 last week.

It is reported that the South Korean government has decided that if oil prices continue to rise, the 20% reduction in fuel taxes will be extended until the end of July, and it will consider expanding the reduction
.