Taiwan to raise gasoline prices by NT$0.7, diesel by NT$0.5 next week

Taiwan's CPC Corporation announced that gasoline prices will increase by NT$0.7 per liter and diesel by NT$0.5 per liter, effective from midnight on July 27. This adjustment comes as international oil prices continue to climb.

Following the price hike, 92 unleaded gasoline will cost NT$30.5 per liter, 95 unleaded gasoline NT$32, 98 unleaded gasoline NT$34, and super diesel NT$29.3. CPC has implemented various measures to stabilize domestic fuel prices.

A comparison with neighboring Asian countries reveals that Taiwan's fuel prices remain competitive. Specifically, Taiwan's 95 unleaded gasoline is NT$17.63 per liter cheaper than the lowest price in the region. Similarly, 92 unleaded gasoline is NT$4.69 cheaper, and super diesel is NT$3.79 cheaper.

For instance, South Korea's 95 unleaded gasoline is priced at NT$49.63 per liter, while Japan's is NT$35.19 for 92 unleaded and NT$33.09 for super diesel. Singapore's 95 unleaded gasoline is significantly higher at NT$84.4 per liter, with super diesel at NT$98.93.

The price adjustments are part of CPC's ongoing efforts to balance domestic fuel costs with global market fluctuations, ensuring a degree of affordability for Taiwanese consumers while navigating international oil price volatility.