As the decline in international oil prices continued, domestic gas station selling prices also recorded a downward trend for the 12th consecutive week. In the first week of August (August 2–6), the average selling price of gasoline at gas stations nationwide was 1,866.2 won per liter, down 2.9 won from the previous week. Diesel also dropped by 3.6 won to 1,849.2 won. Both gasoline and diesel prices nationwide remain in the 1,800-won range.

The government is continuing its maximum price policy to mitigate the impact of international oil price fluctuations on domestic prices. The eighth maximum oil prices, announced on the 25th of last month, were kept at the same level as the seventh round. Gasoline is capped at 1,784 won per liter, diesel at 1,773 won, and kerosene at 1,380 won.

By region, Seoul had the highest price nationwide at 1,909.1 won, while Daegu was the cheapest at 1,840.6 won. These figures represent declines of 1.0 won and 3.8 won, respectively, from the previous week. In the Chungcheong region, all areas saw slight decreases: Daejeon at 1,845.64 won, Chungnam at 1,872.72 won, Chungbuk at 1,873.43 won, and Sejong at 1,861.10 won. Diesel prices also trended downward, with Daejeon at 1,827.75 won, Sejong at 1,845.79 won, Chungnam at 1,855.92 won, and Chungbuk at 1,857.41 won. By brand, GS Caltex gas stations had the highest price at 1,869.2 won, while budget gas stations recorded the lowest at 1,858.0 won.

International oil prices followed the same trend. This week, Dubai crude oil fell by $1.4 to $79.5 per barrel, international gasoline prices dropped by $11.0 to $104.6, and international automotive diesel declined by $10.3 to $148.2. Optimism regarding negotiations between the United States and Iran on Strait of Hormuz transit passage is analyzed as a contributing factor to the decline.

However, there is typically a lag of two to three weeks before international oil price fluctuations are reflected in domestic gas station prices.