Gasoline and prices at domestic gas stations have been on a downward trend for the fifth week in a row.
According to Korea National Oil Corporation’s oil price information service Opinet, the average selling price of gasoline at gas stations nationwide in the first week of August was 1,881.9 won per liter, down 55.8 won from the previous week.
It is the first time in regarding five months since the second week of March that the weekly average gasoline price fell to 1,800 won per liter.
Diesel showed 1,969.8 per liter, down 45.7 won from the previous week.
The decline in oil prices is analyzed to be the result of the expansion of the government’s oil tax cuts and the decline in international prices.
#gasoline #oil tax #international oil price
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