Fuel prices in South Korea have increased for five consecutive weeks, with gasoline and diesel averaging approximately 2,000 won per liter [1].
The sustained price hike puts pressure on consumers during a period of increased domestic travel. Rising costs are driven by a combination of geopolitical instability and seasonal demand trends.
Data from the Korea National Oil Corporation's Opinet system shows the nationwide average price for gasoline reached 2,010 won per liter [2]. In Seoul, the average price was higher at 2,048 won per liter [3]. These figures reflect a daily increase of 39 won nationwide [4] and 14 won in the capital [5].
Diesel prices followed a similar upward trajectory. The nationwide average for diesel reached 2,004 won per liter, an increase of 31 won [6]. In Seoul, diesel averaged 2,035 won per liter, rising by 27 won [7].
These trends continue from the previous month, where the average gasoline price in the final week was 2,008 won per liter [10] and diesel was 2,002 won per liter [11].
Analysts cite the ongoing Iran war as a primary driver for the volatility [1]. Additionally, the arrival of the seasonal travel period, often referred to as the outing season, is expected to further propel prices upward [1].
"The flow of average prices in the 2,000 won range per liter continues as domestic gas station prices have risen for five consecutive weeks due to the Iran war," a YTN anchor said [1].
“Fuel prices in South Korea have increased for five consecutive weeks”
The convergence of geopolitical conflict in the Middle East and seasonal domestic demand creates a compounding effect on South Korean energy costs. Because the country relies heavily on imported oil, instability in Iran directly translates to higher pump prices, which may further strain household budgets during peak travel months.
