Fuel tax cuts extended until end of October

Aug 14, 2025, 09:28 am

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Gasoline prices displayed at a service station in Seoul on August 10. In the first week of August, the average nationwide price for gasoline was 1,669.9 won per liter, up 2.2 won from the previous week. / Yonhap

The government has decided to extend the temporary fuel tax reduction, originally set to expire at the end of August, for an additional two months to ease the public’s fuel cost burden amid lingering uncertainties in global oil prices.

According to the Ministry of Economy and Finance on August 14, the measure will remain in place until October 31, maintaining a 10% tax cut for gasoline and a 15% cut for diesel and liquefied petroleum gas (LPG) butane used for transportation.

This extension will continue to lower prices by 82 won per liter for gasoline, 87 won for diesel, and 30 won for LPG butane compared with pre-reduction levels over the next two months.

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