CPC Corporation, Taiwan has announced that starting tomorrow (5th) at midnight, the prices of gasoline and diesel will be reduced by NT$1.1 and NT$1.4 respectively.

The new retail prices will be NT$27.2 per liter for 92 unleaded gasoline, NT$28.7 for 95 unleaded gasoline, NT$30.7 for 98 unleaded gasoline, and NT$25.7 for super diesel.

CPC stated that the price adjustment is due to the recent drop in international oil prices and an appreciation of the Taiwanese dollar against the US dollar. According to the floating pricing mechanism, the prices should be adjusted downwards as announced. The new prices are now below those of neighboring Asian countries, and the price of 95 unleaded gasoline has not reached the threshold for stabilizing measures.

Additionally, in line with the government's reduction of commodity taxes (NT$2 and NT$1.5 per liter for gasoline and diesel respectively), this move aims to stabilize domestic oil prices. As of the end of April, CPC has absorbed approximately NT$4.116 billion in costs.