"Filling Up Is Scary"...Gasoline Tops 2,000 Won for the First Time in More Than Three Years

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[Financial News] As the United States and Iran hold ceasefire talks, the national average gasoline price at gas stations has climbed above the 2,000 won mark for the first time in more than three years since the Russia-Ukraine war.
According to the Opinet oil price information system on the 18th, the national average gasoline price at 9 a.m. that day stood at 2,001.19 won per liter, up 1.29 won from the previous day.
The national average gasoline price last reached the 2,000 won range on July 20, 2022, when high prices persisted due to the impact of the Russia-Ukraine war. That was about 3 years and 9 months ago.
At the same time, diesel prices rose 0.7 won to 1,994.92 won.
In Seoul, where fuel prices are the highest in the country, gasoline prices have continued to rise every day after surpassing 2,000 won on the 7th.
The average gasoline price in Seoul was 2,035.31 won per liter, up 4.89 won from the previous day, while diesel rose 3.5 won to 2,020.09 won.
Meanwhile, global oil prices plunged on the 17th local time after Iran declared that it would fully allow commercial shipping through the Strait of Hormuz during the ceasefire period.
On ICE Futures Europe, June Brent Crude Oil futures closed at $90.38 per barrel, down 9.1% from the previous session. On NYMEX, May WTI futures settled at $83.85 per barrel, down 11.5% from the previous session.
In general, changes in global oil prices are reflected at domestic gas stations with a lag of about two to three weeks.
solidkjy@fnnews.com Gu Ja-yun Reporter