SEOUL, Sept. 19 (Yonhap) -- Taxes levied on gasoline sold at local pumps accounted for 54.7 percent of consumer prices, a government report said Monday, fueling public demand for lowering oil taxes on petroleum products that have risen in recent months.
According to the report submitted to the annual parliamentary audit by the Ministry of Knowledge and Economy, oil taxes and other related dues accounted for 901.38 won (US$0.8), or 52.7 percent, of the average 1,710.41 won paid by consumers at gas stations last year. Tariffs and other dues accounted for an additional 34.83 won, or 2 percent.
International import prices accounted for 36.7 percent of the total cost, or 626.64 won, while distribution costs and profits of local refineries and gas stations made up the remainder, the report said.
Oil prices at the pump have skyrocketed in the past few years mainly due to soaring international prices, with local gasoline prices exceeding 2,000 won per liter at many gas stations this year. Market observers and consumers have persistently called for tax cuts to lessen the burden, but the government has only responded that such a move could harm the nation's fiscal soundness and encourage people to use more fuel, which has to be imported.
The ministry said that South Korea's energy tax rate on domestic fuel is one of the lowest among member countries of the Organization for Economic Cooperation and Development.
