The government has decided to provide more subsidies to people making a living with diesel vehicles, such as trucks and taxis. The price of diesel oil price interlocking subsidy will be reduced by 100 won from the current 1850 won per liter to 1750 won.
The Ministry of Strategy and Finance held a meeting of related ministries related to diesel oil price interlocking subsidies today (17th) and announced that it has decided to expand the payment of diesel oil price interlocking subsidies to reduce the burden on the cargo industry due to the recent surge in diesel prices.
The diesel oil price interlocking subsidy is a system in which the government provides 50% of the excess in case the diesel price exceeds the standard price. The government decided to provide additional subsidies by lowering the standard price for diesel subsidies by 100 won from 1850 won per liter (L) to 1750 won.
The policy was originally scheduled to be in effect by the end of July, but has been extended for two months to the end of September.
The government expects that this measure will further reduce the burden of oil prices of 50 won per liter on diesel-using transportation companies.
The target of subsidy for diesel is 445,000 trucks, 21,000 buses, 9,300 diesel taxis, and 1,300 coastal cargo ships.
Assuming that the current diesel price is 1960 won, the subsidy amount per liter was 55 won when the base price was 1,850 won, but as it goes down to 1750, it expands to 105 won per liter.
The government is planning to revise the related notices as soon as possible, such as the regulations on the management of fuel price subsidies for trucks and the guidelines for payment of fuel price subsidies for passenger vehicles, with the goal of taking effect on the 1st of next month.
Meanwhile, as of the morning of the 12th, the average selling price of diesel at gas stations across the country exceeded 190.8 won per liter. The price surpassed the previous record of 1947.75 won (July 16, 2008) for diesel.
