Influenced by the stabilisation of international oil prices and the implementation of South Korea's seventh-phase fuel price adjustment system, petrol prices at service stations across the country have continued to decline. The national average price for petrol has dropped below 1,900 won per litre for the first time in approximately three months.

Data from the Korea National Oil Corporation's Opinet price information platform on the 6th shows that as of 12:00 noon that day, the national average retail price for petrol at service stations was 1,898.3 won per litre, a decrease of 4.5 won from the previous day's price of 1,902.8 won.

The last time the national average petrol price fell below the 1,900 won mark was on March 31st (1,895 won). This marks the first time in about three months that prices have returned below that level.

Due to the impact of Middle East conflicts pushing up international crude oil prices, domestic petrol prices in South Korea saw significant increases starting in March. From mid-April until last month, prices remained above 2,000 won per litre for over two consecutive months. Subsequently, prices retreated into the 1,900 won range on June 27th and further declined into the 1,800 won range on July 6th, continuing their downward trend.

Diesel prices have similarly followed a downward trajectory. The national average retail price for diesel during the same period was 1,886.1 won per litre.

Diesel prices fell below 1,900 won on the 24th of last month for the first time in about two months, and dropped further into the 1,800 won range on the 3rd of this month, continuing to decrease since then.