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As if reflecting our economic situation, the 1st Emergency Economic Ministers Meeting was held today (19th), a holiday.

As expected, measures for oil prices were introduced.



By reducing taxes, it was decided to lower gasoline by 57 won per liter and diesel by 38 won.



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The Emergency Economic Ministers' Meeting, which was renamed from the previous Economic Ministers' Meeting, was held on an unusually holiday.



This reflects the sense of crisis, but first came up with a countermeasure against high oil prices.



He announced that he would increase the rate of cut of the fuel tax by 30%, which is still the largest in history, to the legal maximum of 37% from next month to the end of the year.



[Lee Chang-yang/Minister of Trade, Industry and Energy: If the fuel tax cut is extended to the legal maximum of 37% (assuming driving 40km per day), fuel costs of about 7,000 won per month will be reduced additionally based on gasoline.]



Gasoline is 57 won per liter , diesel is 38 won more, but there are many responses that it is still insufficient compared to the rise in the past.



[Lim Jun-ho / Yangcheon-gu, Seoul: It would be better if you drop it off, but can I have 7% (points)?

I think it should be lowered a bit more.]



We also came up with measures for transportation companies such as truck owners who have a high fuel cost burden.



If the price of oil is higher by setting a standard price, the government is giving half of the excess as an oil price indexed subsidy.



The problem is that the prospect that the international oil price will continue to rise is still prevailing.



The International Energy Agency (IEA) predicts that next year's oil demand will exceed the pre-coronavirus level for reasons such as the lifting of China's lockdown, but supply will continue to be in short supply.



[Kim Sang-bong/Professor of Economics at Hansung University: Because oil prices are so high, (government measures) may not be very effective.

(per liter) 2,050 won and 2,00 won, from the consumer's point of view, it is almost the same.]



The government also said that it would induce easing of the transportation cost burden by doubling the income deduction rate for the portion of public transportation used in the second half of the year. The criticism continues.



(Video coverage: Lee Jae-young, video editing: Yoon Tae-ho)



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