Koo Yun-cheol: "Highway Fuel Prices to Be Cut by 100 Won Per Liter During Chuseok Holiday"

Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol announced that "fuel prices at expressway gas stations nationwide will be lowered by 100 won per liter compared to the 17th during the Chuseok holiday period from September 24 to 27, with the public sector sharing the burden of high oil prices."

Chairing an emergency economic headquarters meeting and economic ministers' meeting at the Government Complex-Sejong today (the 18th), Deputy Prime Minister Koo stated that discounts will take effect at 226 state-managed expressway gas stations operated by the Korea Expressway Corporation.

Deputy Prime Minister Koo also added, "During Chuseok, we will discount electric vehicle charging fees during daytime hours when renewable energy supplies such as solar power are abundant, returning the benefits of expanded renewable energy to the public."

He stated, "The fuel tax cut measure, which is scheduled to end at the end of this month, will be extended for an additional two months until the end of November to ease the fuel cost burden on the public."

He announced that the 10th maximum petroleum price, which will go into effect at midnight on September 19, will be announced at 6 p.m. today after a comprehensive review of international oil price trends and the public burden.

He stated that the 15-percent cut for gasoline will be maintained, while diesel, which is essential for industry and logistics, and butane, which is used as fuel for ordinary citizens such as small trucks, will maintain a higher reduction rate of 25 percent as currently implemented.

Deputy Prime Minister Koo emphasized, "Uncertainty surrounding the situation in the Middle East is expanding once again, with international oil prices recently surging significantly. The government will not let down its guard, will maintain the emergency response system, and will make all-out efforts to stably manage energy supply and demand and prices."

He said, "Through active diplomatic efforts, diversification of import sources, and strategic petroleum reserve swaps, we expect no major disruptions to energy supply and demand for the time being. We will operate a joint situation room with the refining industry to monitor crude oil supply and demand on a daily basis and take swift measures as needed."

Deputy Prime Minister Koo said, "Despite difficult external conditions such as the Middle East war, our economy is showing solid fundamentals. Exports are increasing significantly, domestic consumption and other domestic demands are showing signs of improvement, and global credit rating agencies Moody's and Fitch are also evaluating our economy's robust growth positively."
 

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.