The government has decided to extend fuel tax cuts by two months until next February to reflect soaring global oil prices and to ease public burden. 

Finance minister Choo Kyung-ho revealed the decision on Tuesday 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 next February.

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 came to conclude that there is a need to further monitor various factors as the supply and demand of oil continue to see many uncertainties. 

Asked if the latest step was made with the upcoming April general elections in mind, Choo said the government had decided to extend the fuel tax cuts by two months instead of four or six months to avoid such misconception.