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Oil Price on Continuous Rise, 1,532 Won per Liter

Written: 2017-12-02 13:20:23Updated: 2017-12-02 15:01:33

Oil Price on Continuous Rise, 1,532 Won per Liter

Gas prices at the pump are on the rise.  
 
According to Opinet, a real-time oil price information service provided by the Korea National Oil Corporation(KNOC), the price of unleaded gas stood at one-thousand-532-point-two won per liter in the last week of November. That's five-point-four won more than the previous week, and also marks the 18th consecutive month of increases.
 
The price of diesel fuel has also increased for the 19th straight month at one-thousand-324-point-one won per liter, up five-point-five won over the previous month. 
 
The capital of Seoul saw the highest prices for gas, averaging one-thousand-633-point-five won per liter, more than 100 won above the national average. South Gyeongnam Province has the lowest price at one-thousand-507-point-four per liter. 
 
KNOC predicts that the domestic oil price hike will continue amid a modest rise in international oil prices following an agreement among oil producing countries to extend output cuts and an increase in the U.S. refinery utilization rate. 
 

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