Yonhap News4/23/2026BusinessSouth Korea
S. Korea to More Than Double LPG Butane Tax Cut to 25% Amid Mideast Crisis Impact
Government expands fuel tax relief through June as international butane prices surge nearly 50%
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- South Korea announced Thursday it will expand the fuel tax cut on LPG butane from 10 percent to 25 percent starting next month through end of June, as international butane prices jumped nearly 50 percent to $800 per ton this month from $540 in March.
- The government also doubled tax cuts on gasoline and diesel through May, citing the Middle Eastern crisis impact expected domestically.
- The measures target low-income butane users while inflation is forecast to rise to mid-2 percent range in April.
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South Korea announced Thursday it will expand the fuel tax cut on LPG butane from 10 percent to 25 percent starting next month through end of June, as international butane prices jumped nearly 50 percent to $800 per ton this month from $540 in March. The government also doubled tax cuts on gasoline and diesel through May, citing the Middle Eastern crisis impact expected domestically. The measures target low-income butane users while inflation is forecast to rise to mid-2 percent range in April.
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This article was originally published by Yonhap News.
