Temporary fuel tax cut extended to 31 July (petrol 15%, diesel 25%)
Source material is a Korean government announcement (in Korean).
The government has extended the temporary fuel tax cut, originally due to end at the end of May, to 31 July 2026, so petrol stays about 122 won per litre cheaper (15%) and diesel about 145 won per litre cheaper (25%).
Key facts
| Who it applies to | People buying petrol and diesel |
|---|---|
| Rate of cut | Petrol 15% (about 122 won per litre), diesel 25% (about 145 won per litre) |
| Period | Until 31 July 2026 (temporary extension) |
| Announcement | 21 May 2026, Ministry of Finance and Economy (9th meeting of the special task force on living costs and prices) |
Last checked:
The government has decided to extend the temporary fuel tax cut, which was due to end at the end of May, to 31 July. The cut stays at 15% for petrol (about 122 won per litre) and 25% for diesel (about 145 won per litre). Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol announced this on 21 May while chairing the 9th meeting of the ministerial task force on special management of living costs and prices.
Summaries below are factual notes based on government announcements and primary sources — not evaluations or opinions.
FAQ
How long does the fuel tax cut last?
It was originally due to end at the end of May, but it has been temporarily extended to 31 July 2026.
How large are the cuts for petrol and diesel?
Petrol stays cut by 15%, about 122 won per litre, and diesel by 25%, about 145 won per litre.
How much will I save?
It depends on how much fuel you buy. Enter how much you fill up in a month to work out your monthly and yearly savings (see the fuel tax cut savings calculator below).