Korea extends fuel tax reductions as Middle East tensions rise

2024.04.15 10:40:01 | 2024.04.15 10:40:18

[Photo by MK DB]이미지 확대

[Photo by MK DB]



South Korea will extend its fuel tax reduction scheme, originally scheduled to end at the end of April 2024, for another two months as tensions in the Middle East rise following Iran‘s drone and missile attacks against Israel.

The extension is part of the government’s response to the ongoing uncertainty in both the Korean and international fuel markets and an effort to bring consumer prices under control. After Iran‘s drone attacks against Israel, Brent crude oil for June delivery surged up to $92.18 per barrel on the New York Mercantile Exchange on Friday.

By Pulse

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