International prices fell in the fourth week of March, but the previous increase was not reflected
[지앤이타임즈]Gasoline consumer prices have risen for 18 weeks in a row.
According to the Korea Petroleum Corporation, the sales price of gasoline at the fourth gas station in March recorded 1530.0 won, up 12.6 won per liter compared to the previous week.
The selling price of diesel rose 12.2 won to 1,329.0 won.
It has risen 18 weeks since the third week of November last year.
Domestic oil prices have high potential for further hikes.
First of all, the supply price of refiners has risen.
In the third week of March, refiners’ gasoline supply price rose 14.5 won per liter to 1,483.8 won compared to the previous week, and diesel rose 9.8 won to 1,275.4 won.
International oil and gasoline prices have fallen sharply, but a time difference is needed before they can affect domestic prices.
In the fourth week of March, Dubai oil prices fell 3.4 dollars per barrel to 62.4 dollars compared to the previous week, and Singapore international gasoline prices fell 4.4 dollars to 69.0 dollars.
The decline was on the rise of tensions between the US and China on the issue of human rights violations, a strong dollar index, strengthening measures to restrict movement in Europe due to new coronavirus confirmation, and increasing the number of US oil rigs.
However, considering that oil prices have been steadily increasing until the last minute, the effect of this cut will be reflected in domestic prices, requiring a time lag.
In general, international product prices are reflected in domestic demand with a lag of about two weeks. Considering that gasoline prices traded in Singapore have been on an uptrend, such as reaching a year-round high in the second week of March, there is still a driving force for domestic price hikes. It is evaluated as.
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