This week, the average price of gasoline nationwide is 1,807 won… Fuel tax cuts are not reflected

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This week, it was found that the national average gasoline price exceeded 1,800 won for the first time in seven years.

The figure does not reflect the price yesterday (12th), when the fuel tax cut was implemented.

According to the Korea National Oil Corporation oil price information service, the average nationwide gasoline sales price in the second week of November (11.7-11) was 1,807.0 won per liter, up 17.4 won from the previous week.

It is the first time in seven years since September 2014 that the weekly average gasoline price crossed the 1,800 won mark.

Gasoline prices have been rising for the last eight weeks.

However, the weekly unit price increase continued to decrease from 45.2 won, 30.3 won, and 25.2 won to 17.4 won this week.

By region, the price of gasoline in Jeju, the highest price region, was 1,898.4 won per liter, up 40.7 won from the previous week, approaching 1,900 won.

The selling price of diesel at gas stations nationwide rose 17.4 won to 1,602.6 won per liter.

Yesterday, the first day of the fuel tax cut, the national average gasoline price was 1,767.8 won, down 42.4 won from the previous day.

The fuel tax cut for gasoline is 164 won per liter, but there is a time lag of 1 to 2 weeks before the cut is actually reflected in the selling price of self-owned gas stations.

However, gas stations directly operated by refiners and thrifty gas stations operated by Korea National Oil Corporation immediately reflected the fuel tax cut, and as a result, gasoline prices could drop by more than 40 won in one day.

The national average price is expected to drop further from next week, when gasoline products with reduced fuel tax are distributed to general self-owned gas stations.

Reference-news.sbs.co.kr

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