Fuel prices are rising sharply in South Korea, causing long waits at gas stations as drivers rush to fill their tanks amid fears of further increases.
On May 5th, a gas station in Jung-gu, Seoul experienced heavy traffic as drivers flocked to fill up their vehicles, tempted by a lower price of 1794 KRW per liter, compared to nearby stations where prices had already surpassed 1900 KRW due to the impact of U.S. airstrikes on Iran. Many drivers, concerned that prices would continue to rise, opted to fill their tanks completely, with one driver stating that they were uncertain when prices might increase again. According to the Korea National Oil Corporation's price information system, the average price of gasoline nationwide had risen by 45 KRW to 1822 KRW per liter, while diesel prices also increased by 82 KRW to 1811 KRW. A report from Hankyoreh noted that the prices at five gas stations observed in Jung-gu ranged from 1895 KRW to 2299 KRW for gasoline and 1845 KRW to 2169 KRW for diesel, reflecting a notable increase of over 300 KRW compared to pre-conflict levels. These escalating fuel costs had significant implications for professional drivers, particularly in freight transport, who typically spend about 30% to 40% of their operating costs on fuel. One long-distance freight worker expressed concerns that the prices at even budget gas stations were unreasonably high, predicting that prices could exceed 2000 KRW soon and highlighting the difficulty of maintaining a livelihood under such conditions.
