South Korea fuel prices rise for third straight week

April 18 (Asia Today) -- Average gasoline and diesel prices at South Korean gas stations rose for a third straight week, putting both fuels on the verge of topping 2,000 won per liter.

The average nationwide gasoline price for April 12-18 stood at 1,996.3 won per liter, or about $1.36 a liter and $5.15 a gallon. That was up 28.7 won from 1,967.6 won a week earlier. Diesel averaged 1,990.2 won per liter, or about $1.36 a liter and $5.13 a gallon, up 31.1 won from the previous week.

With both fuels nearing the 2,000 won threshold, the government is set to announce its fourth maximum-price notice on Thursday. The current system partially reflects changes in global oil prices while slowing the pace of retail price increases.

By brand, SK Energy had the highest gasoline price at 2,001.8 won per liter, or about $5.16 a gallon, while self-service budget stations were the cheapest at 1,974.7 won. For diesel, SK Energy was also the highest at 1,995.2 won per liter, while budget stations posted the lowest average at 1,966.1 won.

By region, Jeju had the country's highest average gasoline price this week at 2,029 won per liter, or about $5.23 a gallon. Seoul followed at 2,026.7 won, or about $5.23 a gallon.

International oil prices have recently eased on expectations that the conflict involving the United States and Iran could wind down. Dubai crude, the benchmark for South Korea's imported oil, stood at $101.8 a barrel on Wednesday, down $4.7 from $106.5 on Sunday. Changes in global oil prices usually reach domestic pump prices with a two- to three-week lag.

-- Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260418010005586

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This story was originally published April 19, 2026 at 5:28 PM.