The government will extend its fuel tax cuts for two more months, through the end of December, but will require consumers to pay more.

The finance ministry announced on Wednesday that its tax reductions, currently ten percent on gasoline and 15 percent on diesel and liquefied petroleum gas (butane), will drop to seven percent and ten percent, respectively, starting in November.

Beginning next month, the fuel tax will increase by 25 won, or roughly two cents per liter on gasoline, 29 won per liter on diesel and ten won per liter on butane compared to current rates.

The ministry expects these adjustments to affect retail prices at gas stations.

Officials said the changes reflect considerations of inflation, recent oil price trends and the impact on government finances.