Retail oil prices in South Korea rose for 12 weeks in a row this week in line with a hike in global crude oil prices, data showed Saturday.
The average gasoline price nationwide was at 1,505.3 won (US$1.33) per liter in the third week of October, edging up 2.2 won from a week earlier, marking a 12-week winning streak, according to the data provided by the state-run Korea National Oil Corporation (KNOC).
Diesel prices also gained 2.5 won to 1,296 won per liter, advancing for 13 consecutive weeks.
Gasoline prices in the capital city of Seoul were highest at an average 1,609.6 won per liter, 104.3 won more than the national average.
The KNOC expected domestic oil prices to rise for a while on reduced oil production and inventory in the U.S. and the possibility of Washington slapping renewed sanctions on Iran, which could disrupt the Middle Eastern nation's oil exports. (Yonhap)