Gasoline and diesel prices at domestic gas stations climbed for a second straight week.
According to the Korea National Oil Corporation’s oil price information platform, Opinet, on Saturday, the average nationwide selling price of gasoline during the first week of November rose 19-point-one won per liter from a week earlier to one-thousand-685-point-six won per liter.
The average diesel price also rose for a second consecutive week, climbing 26-point-five won per liter to one-thousand-568-point-two won per liter.
Global oil prices fell this week amid concerns of an oversupply in the market and a stronger U.S. dollar, though the decline was limited after OPEC Plus decided to postpone an increase in crude production for the first quarter of 2026.
Dubai crude, South Korea’s benchmark for imported oil, dropped 60 cents a barrel from the previous week to 65 dollars and 60 cents per barrel.
The international gasoline price fell 80 cents a barrel to 78 dollars and 70 cents per barrel, while automotive diesel rose 90 cents a barrel to 94 dollars and 10 cents per barrel.
An official at the Korea Petroleum Association said domestic gas prices are expected to continue climbing next week, with diesel prices likely to remain stronger than gasoline.
The official explained that both international petroleum product prices and the exchange rate rose at the end of October, and the country is gradually rolling back the fuel tax cut.