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Gasoline Prices Top 1,600 won

Written: 2018-06-03 14:23:14Updated: 2018-06-03 14:54:04

Gasoline Prices Top 1,600 won

Photo : KBS News

Domestic gasoline prices have risen for the sixth straight week, surpassing 16-hundred won per liter.

According to data by the Korea National Oil Corporation (KNOC) on Saturday, the price of regular gasoline sold at the pumps nationwide surged by an average 14-point-nine won to one-thousand-605 won per liter in the fifth week of May.

Gasoline prices have been on the rise for the sixth week in a row and it is the first time prices topped the 16-hundred won mark in three years and five months.

Diesel prices also jumped 14-point-nine won on-week to one-thousand-405-point-eight won per liter, while kerosene sold at 932 won, up eight-point-two won from last week.

The KNOC projected that the rise in domestic oil prices will remain for the time being because it takes some time until the recent drop in the price of international crude oil is reflected domestically.

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