Amid a surge in international oil prices following Russia’s invasion of Ukraine, Korean oil prices are regarding 26% higher than the world average.
According to ‘Global Petrol Price’, an oil price information website on the 27th, the average price of gasoline worldwide was $1.33 per liter (L) as of the 21st.
The price of gasoline in Korea was $1.68 (1,994.39 won), which is 25.9% higher than this, and it increased by nearly 300 won in three months from 1,702.62 won on December 13, last year.
Korea had the 42nd highest gasoline price among 170 countries in the world, and the third most expensive in Asia following Hong Kong and Singapore.
Gasoline milk prices differed greatly from country to country. In general, the price of gasoline was higher in developed countries and lower in oil producing countries and developing countries.
In Venezuela and Libya (more than $0.03) and Iran ($0.05), the major oil producing countries, the price of gasoline per liter was less than $0.1 (regarding 120 won), and Russia, the world’s third largest oil producer, was $0.48.
The most expensive place for gasoline is Hong Kong at $2.88, with prices also high in the Netherlands ($2.58), Norway ($2.50), Italy ($2.31) and Germany ($2.30).
Although the US is concerned regarding the recent surge in gasoline prices, it is $1.23, which is $0.1 lower than the global average.