Korea Joongang Daily
Korea JoongAng Daily

Fuel tax cut extended by 2 months amid Middle East tensions

The government has extended the fuel tax cut to the end of June as oil prices fluctuate with escalating tension in the Middle East.

2024-04-15

Fuel tax cut extended by two months amid geopolitical uncertainties

Korea will extend the tax cut on fuel consumption by another two months as geopolitical uncertainties in the Middle East impact global oil prices.

2024-02-16

Fuel tax cut extended as uncertainties in Middle East continue

The government will extend the tax cut on fuel consumption for another two months amid uncertainties surrounding the war in the Middle East, according to the Finance Ministry on Tuesday.

2023-12-12

Fuel tax cut extended to tackle inflation amidst Israel-Hamas conflict

Korea will extend the tax cut on fuel consumption throughout the end of the year amid concerns about inflationary pressure caused by the outbreak of the Israel-Hamas conflict in early October.

2023-10-16

Korea to extend fuel tax cut till end of 2023 given Israel-Hamas war

Finance Minister Choo Kyung-ho said in a ministerial meeting on Monday that the government will extend the tax cut from the end of October to stabilize oil prices that could escalate inflation, especially for energy and food.

2023-10-16

Gov't ponders fuel tax cut extension amid soaring oil prices

The government is considering extending a tax cut on fuel consumption due to soaring oil prices, at their highest since November 2022, to tame inflation ahead of the Chuseok harvest holidays.

2023-09-15

Government ponders extension on fuel tax breaks

The government is considering extending the current tax cuts on fuel consumption through to December, sources said Tuesday, amid soaring energy costs and high inflation.

2023-08-15

Tax cut on fuel extended until August

Korea extended a tax cut on fuel for another four months as oil prices remain uncertain and inflation stays high.

2023-04-18

Gasoline prices rise nationwide as government rolls back tax cuts

Gasoline prices rose across the country on Sunday, the first day the government rolled back on tax cuts from 37 percent to 25 percent. The average gasoline price was 1,540.6 won ($1.22) per liter on Sunday afternoon in Korea, up by ...

2023-01-01

Budget stalemate continues over tax cut plan differences

The budget vote, a week beyond the deadline already, is still in doubt as the two sides remain far apart and continue to bicker.

2022-12-15