South Korea extends fuel tax cut policy for two months to ease the burden on the public.

According to a statement from South Korea's Ministry of Finance, to ease the pressure brought by rising oil prices, the South Korean government plans to extend the fuel tax reduction policy for gasoline, diesel, and butane by another two months, until January 31. During this extension period, the tax cuts of 15% for gasoline and 25% for diesel and butane will remain unchanged. The South Korean government stated that it will continue to implement a larger tax cut for diesel and butane, as these two fuels are widely used by small trucks and low-income households.