Fuel Tax Cut Extended Through Late November; Highway Gas Prices to Drop by 100 Won During Chuseok

[Anchor]

As international oil prices continue to surge amid the prolonged war between the United States and Iran, the government has decided to extend the temporary fuel tax cut through the end of November. Fuel prices at highway gas stations nationwide will also be lowered during the Chuseok holiday.

Reporter Min Gyeongho has the details.

[Reporter]

Deputy Prime Minister for Economy Koo Yun-cheol announced during an emergency economy headquarters meeting today (September 18) that the current temporary fuel tax cut will be extended by two months.

Previously, the government had set the tax rates to reduce the public's fuel cost burden through the end of this month, offering a 15% discount on gasoline and a 25% discount on diesel and butane. This deadline is now being extended to the end of November.

Including value-added tax, the fuel tax per liter will be maintained at 698 won for gasoline, 436 won for diesel, and 152 won for butane.

During the Chuseok holiday, 226 highway gas stations will offer discounted fuel prices.

The government announced that prices will be lowered by 100 won per liter based on yesterday's gas prices from September 24 to 27.

This is intended to have the public sector share the burden of high oil prices.

In addition, electric vehicle charging fees will be discounted during the same period during daytime hours when supplies of renewable energy such as solar power are abundant.

Explaining the background of the policy, Deputy Prime Minister Koo stated, "This is about the public sector sharing the burden of high oil prices together," adding, "Uncertainty in the Middle East is expanding once again as international oil prices rise sharply."

International oil prices, including Brent crude, dropped slightly as concerns over disruptions in Saudi Arabia's crude oil supply partially subsided, but they have mostly remained above 100 dollars during mid-month.

The 10th maximum petroleum price, which will take effect from midnight tomorrow, will be announced at 6 p.m. today. The government stated that it will comprehensively review recent international oil price trends and public burdens.

(Video Editing: Lee Soyoung)
※ Please note: This article was translated by AI and may contain errors.