The price of diesel has overtaken that of gasoline as global supply suffers.
According to oil price portal Opinet run by the Korea National Oil Corporation, the average price of diesel sold at pumps nationwide stood at one-thousand-946-point-65 won per liter as of noon on Wednesday, zero-point-77 won higher than gasoline.
The average price of gas rose about two won from the previous day while diesel shot up by more than five won.
The price jump marks the first time in 14 years since June 2008 that the price of diesel was higher than gasoline in South Korea.
Global diesel prices have seen a recent upswing due to stockpile shortages, especially in Europe, as the war in Ukraine continues. Prior to the conflict, Europe relied on Russia for 60 percent of its diesel imports, but that has taken a hit following sanctions on Russian.
In addition to surpassing gasoline prices for the first time in 14 years, diesel prices in Korea are currently at their highest for the same period.
Source: KBS World Radio