Average gasoline prices at South Korean gas stations have fallen below the 2,000 won (US$1.3) mark for the first time in nearly two months, marking a significant shift in the domestic energy market.
The drop, reported on Sunday, follows a sustained downward trend that has seen prices retreat from recent highs as market conditions stabilize.
This development underscores a broader easing of supply constraints and a reduction in geopolitical risk premiums that have previously weighed on fuel costs.
Industry experts point to these factors as primary drivers behind the near-term decline, suggesting that the pressure on prices may persist in the coming weeks.
The move in South Korea mirrors trends seen in other major markets, including the United States, where gasoline prices have declined for six consecutive weeks.
Significant weekly drops have been recorded across key states such as Colorado, Arizona, and Ohio, indicating a widespread softening in global fuel demand and supply dynamics.