The number of South Korean gas stations which sell regular gasoline at less than 1,600 won per liter has increased as international crude prices plunged, according to an online service provider of oil prices.
As of 1 p.m. on Monday, 77 gas stations were selling regular gasoline at less than 1,600 won per liter, compared with 29 stations three days ago, according to www.opinet.co.kr run by the Korea National Oil Corporation (KNOC).
The country's average regular gas price fell for 21 consecutive weeks to 1,705.83 won per liter, the website said. In Seoul, the average gas price stood at 1,795.44 won per liter.
Local gasoline prices are expected to drop further, market watchers said.
Dubai crude prices dropped nearly 6 percent to 69 dollars and 9 cents last Friday from the previous day, according to the KNOC. Dubai crude accounts for about 80 percent of the country's imports of petroleum.
reporter
Park Sae-jin
swatchsjp@ajunews.com
