The government is extending a fuel tax cut for two more months until February next year.
The tax cuts were initially put in place to help curb inflationary pressure amid rising oil prices, and the most recent extension in October was set to expire at the end of this year.
However, the conflict between Israel and Hamas prompted the new extension due to supply concerns.
The cut for gasoline has been lowered to 25-percent, while diesel remains unchanged at 37-percent.
Despite Dubai crude, used as the base-rate for imported oil prices, dropping from 90 U.S. dollars per barrel to 75 this month from October, finance ministry emphasized the need for caution before making further decisions, amid the ongoing uncertainty in oil prices.
source : https://www.arirang.com/news/view?id=263099
