South Korea will extend its temporary fuel tax reductions for two months through Jan. 31, 2027, retaining a 15% cut for gasoline and 25% cuts for diesel and butane. The Ministry of Finance and Economy said the decision, made at a meeting chaired by Finance Minister Lee Hyoung-il, is intended to ease costs for households and businesses amid geopolitical uncertainty linked to the war in the Middle East while preserving flexibility to respond to future price volatility. Including value-added tax, fuel taxes will remain at 698 won per liter for gasoline, 436 won for diesel and 152 won for butane. The government has maintained the rates since May, with larger reductions for diesel because of its role in industrial and logistics operations and for butane because it is widely used by small trucks. It is also pursuing a task force on economic polarization, with measures for 2027 due to be included in its 2027 Economic Growth Strategy.