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🇹🇼 Taiwan /Economy & Trade

Taiwan to cut gasoline and diesel prices next week

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Taiwan's CPC Corporation announced a reduction in gasoline and diesel prices, effective Monday.
  • Gasoline prices will decrease by NT$1 per liter, while diesel prices will drop by NT$0.7 per liter.
  • The price adjustment follows a period of price freezes and considers government tax reductions and global oil market fluctuations.

Taiwan's state-owned oil company, CPC Corporation, announced a price cut for gasoline and diesel, ending an 11-week streak of stable prices. Effective Monday, June 22, gasoline prices will be reduced by NT$1 per liter, and diesel prices will decrease by NT$0.7 per liter.

Following the adjustment, the new prices will be NT$31.4 per liter for 92-octane unleaded gasoline, NT$32.9 for 95-octane unleaded gasoline, NT$34.9 for 98-octane unleaded gasoline, and NT$30.3 for super diesel.

The decision comes amid fluctuating international oil prices, influenced by factors such as the agreement between the U.S. and Iran and ongoing Middle East tensions. CPC has absorbed approximately NT$17.7 billion in costs between February 28 and June 21. Considering government-implemented reductions in commodity taxes, which have absorbed NT$3.7 per liter for gasoline and NT$2.1 for diesel, the latest price adjustment reflects a comprehensive evaluation of market conditions and government support.

DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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