The government has decided to expand the range of fuel tax cuts to 30% for three months from next month.
We have decided to provide subsidies linked to oil prices to commercial trucks and buses suffering from rising diesel prices.
Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki held a price-related ministerial meeting at the government complex in Sejong on the 5th and made this statement.
Deputy Prime Minister Hong said, "In order to lower the oil cost experienced by people suffering from high oil prices, we will prepare a set of three types of relief from the oil price burden and implement it promptly."
Deputy Prime Minister Hong said, "The extent of the fuel tax cut will be expanded to 30% by adding 10 percentage points from the previous 20%."
The implementation period is 3 months from May to July.
With this fuel tax cut, fuel economy drivers who drive 10 km per liter (L) by 40 km per day can save 30,000 won in fuel costs.
Compared to when the fuel tax was cut by 20%, the fuel cost burden is reduced by 10,000 won.
In order to alleviate the burden on the public transportation and logistics industry, which is suffering from soaring diesel prices, it is decided to temporarily provide subsidies for interlocking diesel oil prices for commercial trucks, buses, and coastal cargo ships for three months.