Seoul's average gasoline price rose above 1,900 won on March 29, the third day since the second oil price cap took effect.

According to the Opinet oil price information system, as of 9 a.m. the national average gasoline price at gas stations was 1,861.8 won per litre, up 5.9 won from the previous day.

At the same time, diesel was 1,855.1 won, up 5.1 won.

Fuel prices in Seoul, the most expensive region nationwide, rose more sharply.

Seoul's average gasoline price was 1,911.3 won per litre, up 14.7 won from the previous day, while diesel rose 12.3 won to 1,889.5 won, data showed.

The government implemented the second oil price cap on March 27 and set maximum prices at 1,934 won for regular gasoline, 1,923 won for automotive and marine diesel, and 1,530 won for kerosene for indoor use.

Compared with the first oil price cap of 1,724 won for gasoline, 1,713 won for diesel and 1,320 won for kerosene for indoor use, all fuels were raised by 210 won.

After the second oil price cap took effect, fuel prices at gas stations nationwide have risen sharply, raising expectations that the national average gasoline price at gas stations could soon exceed 2,000 won.

[Yonhap]