The government has decided to lower the fuel tax by the maximum legal cap of 37 percent from the current 30 percent from next month amid soaring energy prices.

The decision was made on Sunday during an emergency meeting of the heads of ministries in charge of economic affairs.

The measure will lower the fuel tax by 57 won per liter for gasoline and 38 won for diesel. The lowered rate will be effective until the end of the year.

The government expects the cut to reduce average monthly fuel costs by seven-thousand won.

To provide more subsidies to cargo truck drivers troubled by a sharp rise in diesel prices, the government decided to further lower the threshold price for subsidy payments by 50 won to one-thousand-700 won per liter from next month.

About 440-thousand cargo trucks, 20-thousand buses and one-thousand freight vessels are subject to the payments. The measure will be effective until September.