government has decided to lower the fuel tax by 20%. Gasoline prices are expected to drop by up to 160 won or more. Since the oil price is rising so steeply, it was cut to the highest level in history at the expense of a decrease in tax revenue, but analysts are predicting that the actual effect will be felt by the end of next month.
This is reporter Hyung-woo Hyung.
20% reduced fuel tax will be applied from the 12th of next month to the end of April of next year.
With the largest cut ever, gasoline is 164 won per liter, diesel is 116 won, and LPG and butane are 40 won cheaper.
[Hongnamgi / Deputy Prime Minister: to be declining price of right people have to be lowered to touch the skin, and stable management in the annual inflation level in the early 2%;
revenues in oil tax cuts 2500000000000 about juldoe, monthly 0.33% The government expected that the point would have an inflationary effect.
Since the reduced fuel tax is applied at the time of shipment from the refinery, it is expected that it will take about two weeks for consumers to feel it at the gas station.
[Sang-beom Cho / Head of Public Relations Team, Korea Petroleum Association: Even at an oil refinery, it takes about 15 days to go from leaving the factory to going to a gas station or gas station.]
Previously, in 2018, it took 11 days
for the fuel
tax cut to be reflected in the average price. .
[Yoo Beop-min/Director of Resources Industry Policy Bureau of the Ministry of Trade, Industry and Energy: We are going to discuss ways to extend the operating hours of gas stations or expand the operation of vehicles so that they can be transported to gas stations nationwide within a few days.] The
government focuses on directly managed gas stations and thrifty gas stations. We have decided to come up with additional measures next week to ensure that the price can be applied quickly.
Unlike 2018, when the international oil price was on a downward trend at the time of the tax cut, if the oil price continues to rise, the effect of the oil tax cut may be halved.
In addition, it is pointed out that separate support measures such as differential refunds for low-income families are needed, as the survey found that the top 10% of income earners with a lot of vehicle movement benefited nearly three times as much as the bottom 10% of the fuel tax cut.Keywords: