Expressway Service Station Fuel Prices to Be Cut by 100 Won per Liter During Chuseok... Fuel Tax Reduction Extended Through November (Comprehensive)

Emergency Economic Headquarters Meeting Held on the 18th
Tenth Maximum Oil Price to Be Announced at 6 p.m.

The fuel tax reduction measure, originally scheduled to end at the end of this month, will be extended for another two months. During the Chuseok holiday period, fuel prices at gas stations along the nation’s expressways will also be reduced by 100 won per liter.

Deputy Prime Minister and Minister of Strategy and Finance Koo Yoon-chul presided over the "Emergency Economic Headquarters Meeting and Economic Relations Ministers' Meeting" held at the Central Building of the Government Complex Sejong on the 18th, delivering opening remarks. Ministry of Strategy and Finance

Deputy Prime Minister and Minister of Strategy and Finance Koo Yoon-chul announced these measures while presiding over the "Emergency Economic Headquarters Meeting and Economic Relations Ministers' Meeting" at the Government Complex Sejong on the 18th. He explained, “This is a measure to alleviate the public’s fuel costs amid continued uncertainty in the Middle East, and it also takes into account the need to prepare for greater oil price volatility going forward.” As a result of this decision, the current reduction rates—15% for gasoline, 25% for diesel, and 25% for butane—will remain in effect until the end of November.

Koo further stated, “In particular, we have decided to maintain the higher reduction rates for diesel, which is essential for industry and logistics, and for butane, which is widely used as fuel for small trucks and by the general public.”

Including a 10% value-added tax, the reduced fuel tax per liter is 698 won for gasoline (down 122 won), 436 won for diesel (down 145 won), and 152 won for butane (down 51 won), compared to the pre-reduction level.

The meeting also discussed the 10th round of maximum retail fuel price designation. Considering recent international oil price trends and public burdens, the government plans to announce the 10th round’s maximum oil prices at 6 p.m. on the 18th, to take effect from 0:00 on the 19th.

Additionally, from September 24 to 27, during the Chuseok holiday, fuel prices at gas stations on expressways nationwide will be reduced by 100 won per liter compared to the rates on the 17th. This aims to share the burden of high fuel prices with the public and to meet public expectations for improved rest area services along expressways. Furthermore, in order to ensure that the benefits of expanded renewable energy reach the public, the government plans to offer discounted electric vehicle charging rates during daytime hours—when solar and other renewable energy supply is abundant—throughout the Chuseok period.

Koo stressed, “With international oil prices rising sharply and renewed uncertainty surrounding the Middle East, the government will remain vigilant, maintaining an emergency response system and doing its utmost to ensure stable management of energy supply and prices.” He added, “Although we do not expect major disruptions in energy supply for the time being, thanks to active diplomatic efforts, diversification of import sources, and measures like strategic oil swaps, we will operate a situation room with the refining industry to monitor crude oil supply on a daily basis and take necessary actions swiftly.”

This content was produced with the assistance of AI translation services.