1850 won lowered… extended until the end of September
Benefit from 500,000 trucks and taxis for subsistence
▲ Deputy Prime Minister Choo prepares an answer to the supplementary budget
Choo Kyung-ho (center), Deputy Prime Minister of Economy and Minister of Strategy and Finance, prepares an answer related to the supplementary budget at a plenary meeting of the Strategy and Finance Committee held at the National Assembly on the 17th.
Reporter Kim Myung-guk
If the diesel price exceeds the standard price, the diesel oil price interlocking subsidy, which is provided by the government for 50% of the excess, will be expanded. The purpose of this is to reduce the burden on people who make a living using diesel vehicles such as trucks and taxis as the price of diesel continues to rise as the price of diesel has recently surpassed that of gasoline.
On the 17th, the government held a meeting of related ministries related to subsidies linked to diesel oil prices and announced that it had decided to lower the subsidy payment standard price from 1850 won per liter to 1,750 won per liter. The deadline for payment will also be extended from the end of July to the end of September. The government plans to quickly revise the related notice with the goal of implementing it on the 1st of next month.
Assuming that the diesel price is 1960 won per liter, the current subsidy per liter is 55 won, which is 50% of 110 won, which is 1850 won from 1960. According to this revision, the subsidy will be increased to 105 won, which is 50% of 210 won by subtracting 1750 won from 1960 won.
The target of support is diesel transportation companies such as 445,000 trucks, 21,000 buses, 9,300 diesel taxis, and 1,300 coastal freighters. Diesel subsidies are also paid through existing subsidy payment methods such as fuel purchase cards.
From the beginning of this month to the end of July, the government has been temporarily providing oil price interlocking subsidies to transportation operators using diesel. Prior to this, instead of raising the fuel tax in 2001, the government paid a fuel tax-linked subsidy to partially or fully subsidize the increase. However, when the government increased the fuel tax cut from 20% to 30% in May to stabilize oil prices, the fuel tax-linked subsidy decreased while market oil prices continued to rise, increasing the burden on transportation companies. In response, the government paid an oil price-linked subsidy and then expanded it.
Reporter Sejong Park Ki-seok