Gasoline is below 2,000 won in South Korea for the first time in two months
SEOUL, June 28 / WAM / The average price of gasoline at gas stations in South Korea fell again today, after falling below 2,000 won (US$1.3) for the first time in nearly two months the previous day, according to industry data.
The average price of gasoline was 1,991.1 won per liter at 9 a.m., down 5 won from the previous day’s average, according to data from the Korea National Oil Corporation (KNOC).
This is the second day in a row that the average gasoline price remained below 2,000 won, after falling below that mark for the first time in nearly two months. Diesel prices also fell to 1,982.3 won per liter, according to the data.
The decline in energy prices comes in light of the government’s decision to reduce the maximum fuel prices, to reflect the recent decline in global prices of crude oil.
Under the amendment, the maximum prices of regular gasoline, diesel and kerosene supplied by local oil refineries to gas stations were reduced by 150 won, to 1,784 won, 1,773 won and 1,380 won per liter, respectively, starting Saturday.
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