Due to the drop in international oil prices and the appreciation of the New Taiwan Dollar, Taiwan's CPC Corporation announced today that starting from midnight (5th) next week, the prices of gasoline and diesel will be reduced by NT$1.1 and NT$1.4, respectively. The new reference retail prices are now NT$26.2 per liter for 92 unleaded gasoline, NT$27.7 for 95 unleaded, NT$29.7 for 98 unleaded, and NT$24.7 for super diesel.

CPC stated that this week’s decline in international oil prices and the appreciation of the New Taiwan Dollar against the US dollar necessitated a price adjustment based on floating oil price mechanisms. The adjusted prices remain lower than those in neighboring Asian countries like Japan, South Korea, Hong Kong, and Singapore. Furthermore, the price of 95 unleaded gasoline is still below the threshold to trigger stabilization measures, thus the reduction will go ahead.

Additionally, CPC noted that, due to the government’s reduction of commodity taxes (NT$2 and NT$1.5 per liter for gasoline and diesel, respectively), the company will continue to employ the lowest price strategy and stabilization measures seen in neighboring countries, contributing to the stabilization of domestic fuel prices.