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Diesel Subsidy to be Expanded from June 1

Written: 2022-05-30 08:36:15Updated: 2022-05-30 10:25:13

Diesel Subsidy to be Expanded from June 1

Photo : YONHAP News

The government has decided to expand its subsidy for cargo truck drivers and other diesel vehicle operators to help ease the burden imposed by soaring fuel prices.

The Ministry of Land, Infrastructure and Transport said on Monday it will provide more subsidies for drivers of cargo trucks, taxis and buses running on diesel from Wednesday.

Under the move, the government will lower its diesel subsidy base price by one-hundred won from the current one-thousand-850 won per liter to one-thousand-750 won, while also extending the duration of the subsidy by two more months, through the end of September.

The government started offering a diesel fuel subsidy from early this month, paying out 50 percent of the difference when the actual price of diesel exceeds the diesel subsidy base price.

The ministry said the latest move is expected to increase the average monthly subsidy to a 12-ton truck driver by 130-thousand won to 320-thousand won per month.

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