S. Korea prolongs fuel tax relief until late September
The South Korean government has announced an extension of its temporary fuel tax reductions through the end of September, citing ongoing geopolitical instability in the Middle East and continued volatility in global energy markets, Qazinform News Agency cites Yonhap.
The Ministry of Economy and Finance said Friday that the current tax cuts - 15 percent on gasoline and 25 percent on diesel and butane - will remain in effect until September 30. The reductions had been scheduled to expire at the end of this month.
Amid lingering geopolitical instability in the Middle East, the government has decided to leave room for future fuel tax adjustments to address further volatility in oil prices, the ministry said in a statement.
Officials said the extension is expected to help reduce energy costs, particularly by keeping diesel prices lower for the logistics sector and easing fuel expenses for small truck operators that rely on butane.
Earlier, Qazinform reported South Korea’s economy grew 0.6 percent in the second quarter of 2026 compared with the previous quarter, supported by strong exports and recovering domestic demand.
