Korea Joongang Daily
Korea JoongAng Daily

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

Inflation fears grow over impact of Israel-Hamas conflict

Global oil prices edged down slightly on Tuesday after gaining more than four percent in the previous session over fears of the impact of the weekend attack on Israel by Hamas, with some concern it could drive up inflation.

2023-10-10

Gasoline prices near recent highs despite 2021 tax cut

Gasoline prices have increased for three weeks straight, further squeezing the budgets of Koreans already weary from the pandemic and higher prices overall.

2022-02-06

Energy prices cheer refiners, hammer petrochemical firms

A recent spike in energy prices is dividing the fortunes of Korean refiners and petrochemical companies.

2021-10-10