The government has decided to extend fuel tax cuts by two months until the end of October to reflect soaring global oil prices and to ease public burden. 

Finance minister Choo Kyung-ho revealed the decision on Wednesday when he met with reporters in Sejong as the reduction in such taxes is set to expire at the end of this month. 

As a result, the current 25 percent fuel tax cut on gasoline and 37 percent on diesel and liquefied petroleum gas(LPG) will remain in place through October.

Such reduced rates have been in effect for gasoline since January and for diesel and LPG since July of last year. 

Choo said the government will further decide on such taxes in mid-October after monitoring trends of global oil prices.