The government will expand its diesel fuel subsidy for workers in the cargo industry in order to lower their financial burden as the cost of diesel in Korea soars.

The finance ministry on Tuesday said it will lower its diesel subsidy base price by one-hundred won from the current one-thousand-850 won per liter to one-thousand-750 won, while also extending the duration of the subsidy by two more months, through the end of September.

When the actual price of diesel exceeds the diesel subsidy base price, the government pays out 50 percent of the difference.

The new measure is anticipated to lessen the burden of diesel fuel expenses by around 50 won per liter for those in the cargo industry.

Over 476-thousand people in the business, including some 445-thousand truck drivers, 21-thousand bus drivers and over 93-hundred diesel taxi drivers are expected to see some relief, along with over one-thousand cargo ships.