According to a statement from South Korea's Ministry of Finance, in order to ease the pressure brought about by rising oil prices, the South Korean government plans to extend the fuel tax relief policy for gasoline, diesel, and butane for another two months until January 31. The 15% tax reduction on gasoline and 25% on diesel and butane will remain unchanged during this extension period. The South Korean government said it will continue to implement larger tax cuts on diesel and butane, as these two fuels are widely used by minivans and low-income households.

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