Nationwide gasoline prices top 1,800 won per liter, highest in 3 years and 7 months
- Input
- 2026-03-05 11:28:32
- Updated
- 2026-03-05 11:28:32
With volatility in international oil prices rising due to the situation in the Middle East and anxiety driving up demand for fuel, gasoline prices at domestic gas stations have climbed into the 1,800-won range for the first time in three years and seven months.
According to the Korea National Oil Corporation (KNOC) oil price information system Opinet, the nationwide average gasoline price as of 11 a.m. on the 5th was 1,807.1 won per liter, up 29.6 won from the previous day.
This is the first time the nationwide average gasoline price has exceeded 1,800 won since August 12, 2022, when it reached 1,805.9 won, roughly three years and seven months ago. The average gasoline price in Seoul rose 31.8 won from the previous day to 1,874.4 won.
Diesel prices are also climbing sharply.
The nationwide average diesel price jumped 56.5 won in a single day to 1,785.3 won per liter, while the average diesel price in Seoul increased by 61.4 won to 1,865.4 won.
The recent rise in domestic fuel prices is seen as a result of heightened geopolitical tensions in the Middle East, which have increased volatility in international oil prices.
Concerns over potential supply disruptions are pushing global crude prices higher, and this in turn is putting upward pressure on domestic oil product prices.
Normally, changes in international oil prices are reflected in domestic gas station prices with a time lag of about two to three weeks. This time, however, domestic fuel prices are surging with virtually no delay.
President Lee Jae-myung of South Korea said at an extraordinary meeting of the State Council of South Korea held at Cheong Wa Dae that "prices have suddenly skyrocketed even though there has not yet been any objectively serious disruption. I have heard that prices differ in the morning, at noon, and in the evening, and that some places have raised prices by nearly 200 won per liter." He called for measures to rein in such practices.
solidkjy@fnnews.com Reporter Gu Ja-yoon Reporter