emirates7 - The average gasoline price at gas stations in the Republic of Korea fell again today after dropping below the 2,000-won (US$1.3) mark for the first time in nearly two months the previous day, according to industry data.

The average gasoline price stood at 1,991.1 won per litre as of 09:00, down 5 won from the previous day's average, according to data from the Korea National Oil Corp. (KNOC).

This marked the second consecutive day that the average gasoline price remained below 2,000 won after falling beneath the threshold for the first time in nearly two months. Diesel prices also declined to 1,982.3 won per litre, the data showed.

The in energy prices comes amid the government's decision to lower the price ceiling on fuel prices to reflect the recent decline in global crude prices.

Under the adjustment, maximum prices for regular gasoline, diesel and kerosene supplied to gas stations by local oil refiners have been lowered by 150 won to 1,784 won, 1,773 won and 1,380 won per liter, respectively, starting Saturday.