Average gasoline prices at South Korean service stations have fallen below the 2,000 won (approximately US$1.30) mark for the first time in nearly two months.
The decline marks a notable shift in the domestic energy landscape, signaling that lower global crude oil benchmarks are finally translating into tangible relief for consumers and fleet operators across the country.
The price drop reflects a broader easing in fuel costs, driven by sustained weakness in international crude markets.
As Brent and WTI benchmarks have retreated from earlier highs, the pass-through effect has accelerated, pushing retail prices in South Korea to their lowest levels since late April.
This development underscores the sensitivity of the Korean market to global supply dynamics and the lagged nature of retail price adjustments.
The move comes as the South Korean government prepares to adjust its fuel price ceiling.