South Korea will extend reduced fuel tax rates through the end of September as geopolitical tensions in the Middle East raise concerns over energy costs, the Ministry of Finance and Economy said.

The current tax cuts, including a 15 per cent reduction on gasoline and 25 per cent reductions on diesel and butane, will remain in effect until September 30 after being scheduled to expire this month.

The government said the extension aims to ease the burden on consumers by helping manage fuel prices, particularly for diesel used in logistics and butane consumed by small commercial trucks.

The measure is part of efforts to stabilise energy costs amid ongoing market uncertainty. -OGN/TradeArabia News Service