South Korea extends fuel tax cut to June due to Middle East tensions and rising oil prices.
South Korea extends its fuel tax cut by two months to June due to rising Middle East tensions and increasing global oil prices. The 25% discount on gasoline and 37% on diesel and liquefied petroleum gas was initially scheduled to expire at the end of May. The government aims to prevent these rising prices from impacting inflationary pressures on South Korea, which heavily relies on energy imports.
April 15, 2024
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