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Seoul gas prices surpass 2,000 won per liter for the first time in three years

Published: 07 Apr. 2026, 16:12

A gas station in Seoul shows that the gasoline prices surpassed 2,000 won per liter ($5.03 per gallon) on April 7. [YONHAP]

Gasoline prices in Seoul have surpassed 2,000 won per liter ($5.03 per gallon) for the first time in over three years.

They last exceeded the 2,000 won mark in 2022 following the Russia–Ukraine war.

As of Tuesday, the nationwide average gasoline price was 1,964.7 won per liter, and that of diesel was 1,955.6 won, both up from the previous day, per the Korea National Oil Corporation’s oil price information system, Opinet.

Seoul in particular saw sharp price spikes, with gasoline reaching 2,000.3 won per liter, and diesel climbing to 1,979.6 won.

Jeju Island, off the southwestern coast of the mainland, recorded the highest prices in the country, having exceeded 2,000 won per liter on Monday.

The upward trend is driven by rising global oil prices amid the ongoing Iran war, with key benchmarks Brent crude and West Texas Intermediate also climbing in recent days.

Experts say the nationwide average is likely to surpass 2,000 won per liter in the near term due to a lag in how global oil prices are reflected in domestic fuel costs.

The price hike closely follows the government’s fuel price cap introduced last month and adds to the burden on consumers.

BY JEONG JAE-HONG [[email protected]]