South Korea's finance ministry announced on Friday that it will prolong the fuel tax reduction policy until the end of September, citing the renewed escalation of tensions in the Middle East.

The ministry stated that the current tax breaks—a 15% reduction on gasoline and a 25% reduction on diesel and butane—were originally set to expire at the end of this month. These cuts will now be extended through September 30th.

"Given the continued geopolitical instability in the Middle East, the government has decided to maintain the flexibility to adjust fuel taxes further in order to respond to additional oil price volatility," the finance ministry said.

The ministry noted that this latest decision is expected to alleviate the energy cost burden on the public by controlling the prices of diesel used for logistics and butane used for small trucks.

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Responsibility Editor: Yu Jian SF069