SEOUL, Aug. 14 (Xinhua) -- South Korea's finance ministry said on Thursday that it will extend fuel tax cuts for two more months to reduce the burden of fuel costs.
Tax discount rates of 10 percent on gasoline and 15 percent on diesel and liquified petroleum gas (LPG) will remain in place by the end of October, according to the Ministry of Economy and Finance.
The ministry said the extension was aimed at easing the burden of fuel costs on people amid the lingering uncertainty over crude oil prices.
The fuel tax cuts were introduced in November 2021 to lower consumers' energy costs.
The Asian country is especially vulnerable to volatility in global energy prices as it depends on imports for most of its energy. ■
