South Korea will extend its fuel tax cuts by another 2 months ...Middle East

South Korea's finance ministry said that it will extend the tax cut on fuel for two more monthsOut to February 2025 South Korea has implemented a series of fuel tax cuts since 2021 to alleviate the financial burden on consumers amid fluctuating global oil prices and inflationary pressures. Extensions to the cuts have been ongoing. Timeline of Fuel Tax Adjustments:November 2021: The government introduced a temporary fuel tax cut to mitigate the impact of rising oil prices on consumers.June 2024: The tax cut was extended by two months, with reductions adjusted to 20% for gasoline and 30% for diesel and liquefied petroleum gas (LPG) butane. August 2024: Amid rising crude oil prices, the governm

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South Korea will extend its fuel tax cuts by another 2 months ...Middle East

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