The government will lower oil taxes levied on gasoline, diesel, liquefied petroleum gas(LPG) and butane by 15 percent beginning Tuesday. 

The measure, intended to relieve financial burdens on the public from rising international oil prices, is expected to lower gasoline and diesel prices by up to 123 won per liter and 87 won per liter, respectively. 

Oil refineries will supply fuel at a discounted price from Tuesday until May sixth of next year, but it may take some time before the price cuts are reflected at gas stations. 

The amount of money drivers will save from the first fuel surcharge reduction in ten years is estimated at around two trillion won.