Fuel tax cuts to decrease, causing gasoline and diesel prices to rise

[Anchor]

Starting next month, the reduction in fuel taxes will fall again.

As a result, gasoline and diesel prices are expected to rise by about 40 won per liter, respectively.

Park Chan reports.

[Report]

Gasoline prices have dropped by about 8 won per liter compared to four weeks ago.

Many people are trying to fill up at cheaper gas stations during this relatively low price period.

[Oh Mi-hyun/Seoul Dongjak-gu: "I have an application installed to find out where the cheapest gas is, and I'm looking for it more diligently."]

While fuel prices and consumer prices are stable, tax revenue has decreased by more than 9 trillion won compared to last year, leading the government to decide to lessen the fuel tax cut starting next month.

The reduction rate for gasoline will be adjusted from the previous 20% to 15%, while diesel and liquefied petroleum gas will be adjusted from 30% to 23%.

This means that gasoline prices will increase by 42 won, and diesel prices will rise by 41 won.

In principle, each gas station should apply the increase when selling fuel purchased after November, after exhausting the quantities they had previously stocked.

However, when the fuel tax cut was reduced last July, gasoline prices surged from the first day of application.

Some gas stations raised prices by 40 won in just one day.

Furthermore, prices may rise even more starting next year.

This is because the government has announced a gradual normalization of the fuel tax cut measures.

[Kim Wan-soo/Seoul Dongjak-gu: "I'm honestly worried. I wish they would extend the special measures for fuel tax reduction a bit longer..."]

To minimize the burden of fuel tax adjustments, it is crucial for international oil prices, which have become volatile due to conflicts in the Middle East, to maintain a stable trend.

This is KBS News, Park Chan.