Taiwan CPC Corporation announced that starting from midnight on July 15, gasoline and diesel prices will be increased by 0.2 NTD and 0.1 NTD respectively. The adjusted reference retail prices are as follows: 92 Unleaded Gasoline at 29.2 NTD per liter, 95 Unleaded Gasoline at 30.7 NTD per liter, 98 Unleaded Gasoline at 32.7 NTD per liter, and Super Diesel at 26.6 NTD per liter.
According to Taiwan CPC, international oil prices have fallen, with the 7D3B weekly average price decreasing by 1.26 USD, and the New Taiwan Dollar appreciating by 0.015 NTD against the USD, resulting in a price drop of 1.19%. According to the floating oil price mechanism, gasoline should be increased by 3.5 NTD, and diesel by 5.0 NTD. To keep prices lower than neighboring Asian countries (Japan, South Korea, Hong Kong, and Singapore), Taiwan CPC has activated the dual stabilization mechanism, absorbing 3.3 NTD and 4.9 NTD respectively. As 95 Unleaded Gasoline exceeds 30 NTD, the price stabilization measure is further activated, absorbing 25% of the increase, which is 0.2 NTD per liter.
Taiwan CPC stated that oil price adjustments are based on the oil price formula, as well as the government's reduction of the goods tax (2 NTD and 1.5 NTD per liter for gasoline and diesel respectively), maintaining the lowest price in Asia and stabilization measures to help stabilize domestic oil prices. By the end of June, Taiwan's CPC had absorbed about 15.994 billion NTD. The actual retail prices of various oil products will be announced at each sales point.
For detailed information and oil price comparisons, please refer to the Taiwan CPC global information network: https://www.cpc.com.tw, under Products and Services -- Comparison Table of Neighboring Asian Countries.
