Reduction in Fuel Tax Cut Leads to Gasoline Price Increase, Government Discusses Emergency Measures

 

 

 

The government has reduced the fuel tax cut from this month, resulting in a rise in gasoline prices by about 30 won per liter.

In response, the Ministry of Trade, Industry and Energy held a joint petroleum market inspection meeting with related ministries on the 11th to discuss price stabilization measures.

In this meeting, the impact of the reduction in the fuel tax cut on prices was closely examined, and the results of measures taken against illegal activities detected during gas station field inspections were shared.

The Ministry of Trade, Industry and Energy stated that although the fuel tax cut rate for gasoline has been reduced from 25% to 20%, making price increases inevitable, they minimized the increase through budget-friendly gas stations.

Lee Ho-hyun, Director of Energy Policy at the Ministry of Trade, Industry and Energy, said, "As the fuel tax cut is partially restored from this week, it is being reflected in the selling price," and added, "We will work to stabilize prices to prevent a significant rise in oil prices from burdening the public with higher living costs."

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Reduction in Fuel Tax Cut Leads to Gasoline Price Increase, Government Discusses Emergency Measures