To respond to the recent surge in oil prices, the party decided to cut the fuel tax by 20%. It is applied for 6 months from the 12th of the following month to the next April.

This is reporter Hyung-woo Hyung.

<Reporter> The

Democratic Party and the government have decided to temporarily cut the fuel tax in response to the recent surge in oil prices.

The fuel tax cut rate, which will be applied for six months from the 12th of next month, is 20%, the largest ever cut.

With this measure, gasoline prices will be reduced by up to 164 won per liter, diesel by 116 won, LPG and butane by 40 won.

During the cut-off period, the fuel tax will be reduced to a total of 2.5 trillion won, and the government predicted that 20,000 won a month could be saved if a gasoline vehicle is driven 40 km a day.

Initially, the government insisted on a 15% cut as in 2018, but after discussions, it is known that the ruling party has agreed to a 20% cut.

The LNG quota tariff rate will be reduced from the current 2% to 0% for 6 months.

Recently, the international oil price is recording the highest in three years in the $80 range, and the domestic gasoline price is in the mid-1,700 range, the highest in seven years.

[Hong Nam-gi / Deputy Prime Minister of Economy: To speed up follow-up measures so that the price of the people can feel right away and the annual price level can be stably managed at the low 2% level.]

The party also decided to freeze utility bills in principle in the fourth quarter, and also announced that livestock products would be managed stably by strengthening supply and demand management focusing on major items.