Tag: fuel tax cut

fuel tax cut

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A driver refuels a car at a gas station in Seoul on Dec. 31, 2025. [YONHAP]

Gov't to extend fuel tax cut by another 2 months until April

Korea will extend its temporary fuel tax cut for an additional two months through the end of April in a bid to ease the financial burden on consumers amid ongoing volatility in global oil prices, the Finance Ministry said Thursday.

2026.2.12

Prices of gasoline and diesel are displayed at a gas station in Seoul on Feb. 2. [NEWS1]

Korea to extend fuel tax cut by another 2 months

The government will extend its fuel tax cut for two more months through April in a bid to alleviate the financial burden on consumers, the Finance Ministry said Thursday.

2025.2.6

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Gasoline prices are shown at a gas station in Seoul on Sunday. [NEWS1]

Fuel tax cut extended by 2 months amid Middle East tensions

The government has extended the fuel tax cut to the end of June as oil prices fluctuate with escalating tension in the Middle East.

2024.4.15

A gas station in Seoul on Tuesday. The National Assembly approved a bill that raised the maximum ceiling on the cut that the government can make on fuel tax to ease the burden on rising fuel prices. [YONHAP]

National Assembly passes bill to expand fuel tax cuts to 55 percent

The latest bill passed by National Assembly on Tuesday will allow the government to cut fuel taxes up to 55 percent, up from the current limit of 37 percent, until the end of 2024.

2022.8.2

Fuel tax cuts

The fuel tax cut will be expanded to 37 percent from the current 30 percent starting July.

2022.6.30

Gasoline and diesel sold at more than 2,000 won per liter at a gas station in Seoul on Monday. The price of fuel, despite a government tax cut, has been rising. [YONHAP]

Gasoline prices near peak despite higher fuel-tax cut

Gasoline is retailing at 2,012.33 won ($1.6) per liter, up 1.33 won in a day and near an all-time high. In Seoul, the price is 2,088.42 won per liter, up 2.33 won.

2022.5.31

Gas tax cut up

Divers line up at a gas station in Yongin, Gyeonggi, Sunday. A fuel tax cut of 30 percent was effective May 1 and will be in place until the end of July.

2022.5.1

Tag: fuel tax cut

fuel tax cut

Latest News

Gov't to extend fuel tax cut by another 2 months until April

Korea to extend fuel tax cut by another 2 months

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Fuel tax cut extended by 2 months amid Middle East tensions

National Assembly passes bill to expand fuel tax cuts to 55 percent

Fuel tax cuts

Gasoline prices near peak despite higher fuel-tax cut

Gas tax cut up