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Q What is an oil price subsidy?

“The diesel fuel price subsidy is a system in which the government provides 50% of the excess in case the diesel price exceeds the standard price.

According to this measure, the current standard price of subsidy payment linked to oil prices, which has been in effect since the 1st, is reduced by 50 won from 1,750 won per liter to 1,700 won per liter, and the payment deadline is also extended from the end of July to the end of December.


Q How much oil price-linked subsidy can be supported?


If the diesel price is 2,000 won, the subsidy will increase from 75 won per liter (=(2,000-1,850) x 50%) to 125 won (=(2,000-1,750) x 50%). It is expected to receive an additional oil price-linked subsidy of 130,000 won compared to the previous one, from 190,000 won to 320,000 won on average per month.


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(Source: buscard.co.kr)