Reducing the oil tax cut...Starting next month, it will increase 42 won per liter of gasoline.

First of all, the oil tax cut will be extended for two months...Consideration of Price Shock
Oil tax cut extended by two months until December...Cutback
Step-by-step reduction in consideration of inflation shock amid sluggish domestic demand
Oil tax expected to be 4.1 trillion less than the main budget

[Anchor]
Starting next month, the oil tax cut will decrease, and gasoline prices will rise by 42 won per liter.Although the reduction in

has decreased, the reduction has been extended by two more months due to concerns over price shocks.

Lee Seung-eun reports.

[Reporter]
Oil tax cuts will continue for two months from next month to the end of the year.

However, the reduction is reduced.

Starting next month, the government will cut gasoline by 5 percentage points from 20 percent to 15 percent and diesel and LPG butane by 7 percentage points from 30 percent to 23 percent.

As a result, gasoline will increase by 42 won per liter, diesel by 41 won, and LPG butane by 14 won.

Consumer inflation fell below the government's target of 1.6% last month, and there was justification for an end to the oil tax cut.

However, while domestic demand is not reviving, prices of agricultural products such as cabbage prices are high and there is a possibility of a sudden change in the situation in the Middle East, and the gradual reduction has been decided.

[Consumer: It doesn't matter if oil prices go up if the economy works well. Since the economy is bad, household debt is burdensome because there is no money.]

The large-scale tax deficit, which is expected to be 29.6 trillion won this year, is also the background of the cut.

The transportation energy environment tax, which is an oil tax, is expected to be collected by 11.4 trillion won this year, more than 4 trillion won less than the main budget.

The oil tax cut has continued for more than three years since November 2021, when international oil prices soared.

I'm YTN's Lee Seung Eun.


Video Edit: Jung Kook-yoon
Design: Lee Na-eun