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Gov't considering temporarily lowering fuel taxes, tariffs on LNG: finance minister

All News 08:33 October 26, 2021

SEOUL, Oct. 26 (Yonhap) -- The government is considering temporarily lowering fuel taxes amid soaring oil prices, Finance Minister Hong Nam-ki said Tuesday, as it seeks to cope with inflation concerns.

Hong made the remarks at a government-ruling party meeting in Seoul, pointing out that gasoline prices hit the highest level in seven years at around 1,700 won (US$1.45) recently and that the government will review such measures to help people.

He added the government is also considering freezing public utility charges in principle and will manage the supply of agriculture and fishery products.

"The price growth pressure has been getting bigger recently," Hong said. "In our case, we are still lower than advanced countries, but since it is directly related to people's lives, we cannot neglect the issue at any time."


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