Seoul fuel prices top 2,000 won as oil rises on Iran tensions despite ceasefire hopes

Domestic fuel prices continued their upward trajectory Tuesday, with average gasoline prices in Seoul surpassing 2,000 won ($1.33) per liter, even as hopes grew for a ceasefire between the United States and Iran. According to Opinet, a fuel price information system operated by the state-run Korea National Oil Corp., the nationwide average gasoline price reached 1,964.7 won per liter, up 6.4 won from a day earlier. Diesel prices rose by the same amount to 1,955.6 won. In Seoul, the increase was steeper. Gasoline averaged 2,000.3 won per liter, up 9.9 won from a day earlier, while diesel climbed 11.6 won to 1,979.6 won. This marks the first time in three years and eight months that Seoul’s average gasoline price has returned to the 2,000-won range. The last time it happened was on July 25, 2022, when it hit 2,005 won amid the Russia-Ukraine war and prolonged high global oil prices. On Jeju Island, where gasoline prices are the highest in the country, the average had already exceeded 2,000 won per liter on Saturday and continued to rise. On Tuesday, it increased 4.4 won to reach 2,019.2 w

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