BUSINESS

Retail oil prices in Korea up for 15th straight week

By Yonhap
  • Published : Nov 11, 2017 - 11:43
  • Updated : Nov 11, 2017 - 11:43

Retail oil prices in South Korea rose for a 15th consecutive week in line with a hike in global crude oil prices, data showed Saturday.

The average gasoline price nationwide was at 1,512.1 won ($1.35) per liter in the second week of November, edging up 4.1 won from a week earlier, according to the data compiled by the state-run Korea National Oil Corp. (KNOC).

(Yonhap)


Average diesel price also climbed 4.5 won to 1,304.1 won per liter, marking a 16-week gaining streak, the data showed.

Gasoline prices in the capital city of Seoul were the highest at an average of 1,614.8 won per liter, 102.7 won more than the national tally.

The KNOC expected domestic oil prices to rise for a while, taking a cue from a surge in global oil prices on reduced production and weak dollar. (Yonhap)