The price of gas is also...Gasoline prices exceed KRW 1,700 range

Domestic gasoline prices have surpassed KRW 1,700 in five months due to high exchange rates and rising international oil prices.

According to the Korea National Oil Corporation's oil price information system Opinet, the average gasoline price sold at gas stations nationwide rose to 1,703.4 won today after recording 1,702.3 won per liter yesterday.

Seoul, which is the most expensive city, is up nearly 4% in a month at KRW 1,772.

The average diesel price is KRW 1,552.7 per liter, which has been on the rise day after surpassing KRW 1,500 in December last year.

Along with the strong dollar trend, domestic oil prices are expected to continue to rise as international oil prices hit a five-month high in the wake of U.S. sanctions on Russian oil.

The Korea National Oil Association expects oil prices to continue to rise over the next two weeks as international oil prices rise and the won's value falls per dollar due to rising exchange rates.