South Korea to extend fuel tax cuts until the end of November — Channel NewsAsia
In South Korea, the Ministry of Finance will extend the current fuel tax cuts for another two months — until the end of November 2026. This was reported by Channel NewsAsia, citing a statement from the ministry. The benefits apply to gasoline, diesel fuel and butane.
Current fuel tax cuts
The 15% tax cut for gasoline will be retained, while the cuts for diesel fuel and butane will remain at 25%. The reduction level for diesel and butane is 10 percentage points higher than for gasoline. The ministry will maintain these current levels throughout the extended period.
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Reason for extending the tax benefits
According to the ministry, the extension is intended to help ease fuel costs amid oil price volatility linked to the Middle East. CNA said Reuters was the source of its report. The CNA report was published on September 18, 2026.
