S. Korea to extend fuel tax cuts through Jan. to ease price burdens

What happened: South Korea will extend its fuel tax cuts by two months through January, the finance ministry said, to ease the public's financial burden amid lingering Middle East uncertainty. Key numbers: Cuts of 15 percent on gasoline and 25 percent on diesel and butane, originally set to expire at the Why it matters: The ministry said the decision reflects the need to ease the burden on households and the government's capacity to respond to future price volatility. Larger cuts on diesel and butane reflect diesel's importance to industry and logistics and butane's use in small trucks.

South Korea will extend its fuel tax cuts by two months through January, the finance ministry said, to ease the public's financial burden amid lingering Middle East uncertainty.

The ministry said the decision reflects the need to ease the burden on households and the government's capacity to respond to future price volatility. Larger cuts on diesel and butane reflect diesel's importance to industry and logistics and butane's use in small trucks.