This week, the South Korean government will begin reducing its fuel tax cut.
Back in November, fuel taxes were lowered by 15 percent... to try and ease the burden on small businesses and citizens.
It was to last for 6 months but in April, that tax cut on fuel products was extended until late August.
From Tuesday to August 31st, the fuel tax will be slashed by only 7 percent.
While it could reduce the burden on people by an additional 600 billion won or around 526 million dollars, it comes at a time when gas prices have been rising for 11 straight weeks.
Back in November, fuel taxes were lowered by 15 percent... to try and ease the burden on small businesses and citizens.
It was to last for 6 months but in April, that tax cut on fuel products was extended until late August.
From Tuesday to August 31st, the fuel tax will be slashed by only 7 percent.
While it could reduce the burden on people by an additional 600 billion won or around 526 million dollars, it comes at a time when gas prices have been rising for 11 straight weeks.
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