Gasoline price gap huge within single districts in Seoul

Gasoline price gaps are as wide as 653 won (56 cents) per liter within single districts in Seoul.

Consumers Korea, an incorporated association, announced Monday the results after surveying sales prices of oil products (gasoline and diesel) at 562 gas stations in Seoul, which was released on Office.net, an oil information site operated by Korea Oil Corporation, between August and October.

In October, the gasoline sales price at Guro district showed the widest price gap, 2,068 won (1.77 dollars) per liter at GS Caltex, and lowest price was 1,415 won (1.21 dollars) also at GS Caltex, a gap of 653 won (56 cents).

Premium gasoline and diesel had the widest price gap in Gangnam district, both from SK Energy stations. The highest price in the district sold in September was 2,278 won (1.95 dollars) per liter, and the gap with lowest price was 1,495 won (1.28 dollars) per liter. Diesel price in the district in October had a gap of 726 won (62 cents), with highest price at 1,950 won (1.67 dollars) and lowest at 1,224 won (1.05 dollars) per liter.

By oil firm, SK Energy had the highest price in terms of average gasoline price, followed by GS Caltex and S-oil. Hyundai Oilbank had the lowest price. When comparing average gasoline price with self-service gas stations, normal stations were expensive by 108-116 won (0.9-1 cent).

According to Consumers Korea, global oil prices have continued to fall recently but premium gasoline prices in Seoul rose to August levels in October after falling in September. Ordinary and premium gasoline`s lowest prices rose in October from August. Meanwhile, lowest diesel prices have continued to rise for three straight months. A source at Consumers Korea said, "With prices rising when international oil prices are falling, the price decline factors are not properly reflected in domestic oil markets."

mo@donga.com