Letsnewz.

Letsnewz.

International Oil Prices Rise Slightly as Taiwan Raises Diesel Price but Keeps Gasoline Steady

International Oil Prices Rise Slightly as Taiwan Raises Diesel Price but Keeps Gasoline Steady

Starting tomorrow, gasoline prices will remain unchanged while diesel prices will see a slight increase of 0.2 NTD per liter. The rise is fueled by Russia's missile attack on Ukraine's capital, escalating geopolitical tensions, and considerations by OPEC+ regarding a potential increase in production in June, leading to a slight uptick in international oil prices.

According to Taiwan's CPC Corporation, diesel wholesale prices will increase by 0.2 NTD starting tomorrow, while gasoline wholesale prices will not be adjusted. Reference retail prices are as follows: 92 unleaded gasoline at 28.3 NTD per liter, 95 unleaded gasoline at 29.8 NTD, 98 unleaded gasoline at 31.8 NTD, and super diesel at 27.1 NTD.

Moreover, signs of easing proposed US tariffs on major countries have also contributed to the rise in international oil prices. Based on the floating oil price adjustment principles, both gasoline and diesel should be increased by 0.2 NTD per liter. However, to maintain competitiveness with neighboring Asian countries (Japan, South Korea, Hong Kong, Singapore), gasoline will absorb the increase, keeping the 95 unleaded gasoline under 30 NTD, thus the domestic gasoline price remains unchanged while diesel is raised by 0.2 NTD.