Overview
- Seoul’s average gasoline price reached 2,011.54 won per liter at noon, Opinet data show, after first crossing 2,000 won earlier in the day.
- The nationwide average stood at 1,966.91 won for gasoline and 1,958.15 won for diesel at midday, reflecting steady day-to-day gains.
- Jeju posted some of the steepest prices, with average gasoline at 2,020.10 won per liter and diesel near 1,996 won, according to Opinet.
- Rising crude prices tied to the Iran war and shipping snags through the Strait of Hormuz are feeding into South Korea’s pump prices.
- The government set caps on wholesale fuel prices on March 13 with biweekly updates and a new review due Friday, while experts expect the national average to top 2,000 won soon because retail prices lag global crude.