Sejong: The finance minister on Friday vowed to make diplomatic efforts and diversify import sources to address recent energy price volatility amid geopolitical uncertainties in the Middle East. Finance Minister Koo Yun-cheol made the remarks during a meeting of economy-related ministers in the central city of Sejong, pointing out that global oil prices have recently risen sharply amid geopolitical tensions. According to Yonhap News Agency, Koo emphasized the government's intention to remain vigilant and maintain an emergency response system to stably manage the supply of energy sources and their prices. Koo noted that the energy supply is anticipated to remain stable for the time being due to the government's proactive diplomatic efforts, diversification of import sources, and a strategic swap of oil reserves. "We will operate a monitoring team with the oil refining industry to check the supply of crude oil on a daily basis and take necessary measures promptly," the finance minister stated. Additionally, t he government announced plans to extend its fuel tax cut scheme by another two months through November to ease price burdens on the public amid prolonged tensions in the Middle East. South Korea will also work with gas stations at major highways across the country to offer a discount of 100 won (US$0.07) per liter over the Chuseok holiday, which runs from Sept. 24-27, compared with Thursday's prices. This meeting marked Koo's last before stepping down as finance minister.