Local gasoline prices have fallen for the third week in a row.
According to the oil price information portal Opinet run by the Korea National Oil Corporation, the average price of gasoline sold at pumps nationwide fell 13-point-three won to slightly over one-thousand-977 won per liter this week, the second week of April.
The weekly drop has been widening, likely affected by sliding global oil prices on the heels of the U.S.-led release of strategic oil reserves.
On Friday, the average gas price dipped to as low as one-thousand-970-point-four won per liter.
The price of diesel this week also shed nine-point-two won to record one-thousand-902-point-six won per liter.
From May 1, the government will expand the fuel tax cut from the current 20 to 30 percent. The steeper discount could lower the price as much as 83 won less per liter for gasoline.
Source: KBS World Radio