The government is considering a plan to pay more oil price subsidies for diesel trucks. The photo shows the price of diesel and gasoline posted at a gas station in downtown Seoul on that day. yunhap news
The government is considering a plan to expand the range of fuel tax cuts from 20% to 30% following May in order to lower the burden of oil prices.
It is also considering an additional subsidy for fuel prices for truck drivers who are subsistence operators.
According to the Ministry of Strategy and Finance on the 3rd, the government will hold a price-related ministerial meeting presided over by Hong Nam-ki, Deputy Prime Minister and Minister of Strategy and Finance on the 5th, when consumer prices will be announced in March, and decide on a plan to alleviate the price burden, including expanding the range of fuel tax cuts. .
The government is strongly considering a plan to expand the fuel tax cut from 20% to 30% from May 1 to the end of July.
The average price of Dubai oil in March was $111 per barrel, up 20% from February. Domestic gasoline prices exceeded 2,000 won per liter as of the last week of March.
The 30% reduction in the fuel tax means the limit of the reduction under the current law. In this case, the tax per liter of gasoline will be reduced to 574 won, 246 won less than before the fuel tax cut, and 82 won less than when the 20% cut rate was applied.
If the government mobilizes even the last resort to adjust the fuel tax flexible tax rate, the actual fuel tax cut can be increased to 37%.
In addition, the government is considering a plan to provide additional fuel subsidies to truck drivers who make a living.
The fuel price subsidy is a subsidy that subsidizes some or all of the amount equivalent to the fuel tax increase in June 2001 for commercial trucks.
In order to stabilize oil prices, the government has decided to release 4.42 million barrels of strategic oil in cooperation with the International Energy Agency.
In case of supply disruption, supply and demand management measures are being prepared in case of emergency, such as introducing crude oil produced overseas by the Korea National Oil Corporation.
A government official said, “Considering the weekend situation, the final supplementary plan will be confirmed and announced at the price-related ministerial meeting on the 5th.”
