The weekly average price of gasoline nationwide declined for the first time in six weeks, while the average price of diesel continued to rise.

According to an oil price information system run by the Korea National Oil Corporation(KNOC) on Saturday, the average price of gasoline during the fifth week of July fell two-point-five won per liter on-week to one-thousand-711 won per liter, or around one U.S. dollar and 26 cents.

The gasoline price dropped after rising for five consecutive weeks since the fourth week of June.

The average price of diesel rose one-point-nine won per liter to one-thousand-548-point-three won per liter, continuing a six-week streak of increase. The on-week increase, however, has gradually slowed.

Global oil prices dropped for the fourth straight week amid concerns over an economic slump in major economies, although the decline was limited due to geopolitical risks in the Middle East following the assassination of a Hamas political leader.

The Dubai crude, which serves as the country's standard for oil import prices, fell one-point-seven dollars on-week to 79-point-seven dollars per barrel.

It typically takes about two weeks for global costs to be reflected in domestic prices.