Gasoline and diesel prices at South Korean gas stations continued to hover in the 2,000-won range on a weekly basis.
According to Yonhap News Agency and the Korea National Oil Corp.’s Opinet price information system on Friday, the nationwide average retail price of gasoline in the fifth week of April (April 26-30) rose 4.8 won from the previous week to 2,008.6 won per liter.
By region, Seoul posted the highest price at 2,048 won per liter, up 8.7 won from a week earlier. Daegu recorded the lowest at 1,993.6 won, up 4.7 won.
The recent rise in international oil prices was attributed to stalled cease-fire talks between the U.S. Donald Trump administration and Iran. A strong exchange-rate trend has added to upward pressure on domestic fuel prices.
Domestic fuel prices are heavily influenced not only by global crude prices but also by the exchange rate. In March, as Dubai crude surged 87.9% from the previous month and the won-dollar exchange rate rose 2.6%, import prices jumped 16.1% from a month earlier, the highest level in about 28 years since January 1998.
A weaker won pushes up the won-denominated cost of crude, which is traded in dollars. Over the same period, won-based crude prices hit a record since data collection began, while jet fuel and naphtha prices rose 67.1% and 46.1%, respectively.
Analysts warn that the combined rise in oil prices and the exchange rate could spread across broader inflation. With the consumer inflation rate in April 2026 running in the mid-to-high 2% range, some forecasts say it could climb to around 3% in May if the high exchange-rate trend persists, potentially weakening households’ real purchasing power and adding to living-cost burdens.
* This article has been translated by AI.
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