Although the government has expanded the range of fuel tax cuts from this month, gasoline and diesel prices have risen for the second week in a row due to the rise in international oil prices.
According to the Korea National Oil Corporation oil price information site, the average selling price of gasoline at gas stations nationwide in the third week of May rose by 21 won from the previous week to 1,963.6 won per liter.
As the fuel tax cut expanded to 30% from this month, the price of gasoline fell 44.2 won in the first week of May, but showed an upward trend for the second week in a row.
The price of diesel also rose 36.7 won from the previous week to 1,976.4 won, and the price reversal continued.
However, the price of diesel is expected to stop rising in the next week due to the decline in international oil prices.
An official from the Petroleum Association predicted that in the United States, the demand for gasoline is increasing but the inventory is low, and the price of gasoline will soon surpass that of diesel.
YTN Park Hong-gu ([email protected])
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