Local gas prices have risen for the 14th week in a row, reaching the highest level in two years and nine months. 

According to Opinet, an oil price information website run by the Korea National Oil Corporation, the average price of regular gasoline nationwide rose more than four won to top one-thousand-645 won per liter in the first week of August.

It's the highest figure since November 2018.

However, the weekly growth is slowing. Prices rose by more than ten won for six straight weeks, but this increase has dropped to about four won.

By region, prices in Seoul gained four-point-five won this week to reach an average one-thousand-729-point-three won per liter. Daegu has the lowest prices averaging one-thousand-623-point-five won.

The price of diesel also jumped three-point-six won to over one-thousand-440 won.

Meanwhile global oil prices slipped this week following last week gains. The Dubai crude, which South Korea mainly imports, fell a dollar 70 to 71 dollars 30 cents a barrel.

Global gasoline prices are tallied at 81 dollars 80 cents, down by a dollar 90 from last week.

The Korea National Oil Corporation said that global oil prices are on the decline, affected by the pandemic resurgence, increased stockpiles in the U.S. and lackluster manufacturing indicators.