Reported 11 months ago
Taiwan CPC announced a 0.1 NT dollar decrease in gasoline and diesel prices starting from midnight on June 24. Post-adjustment, reference retail prices per liter are 29.1 NT for 92 unleaded gasoline, 30.6 NT for 95 unleaded gasoline, 32.6 NT for 98 unleaded gasoline, and 26.6 NT for premium diesel. This week, due to initiating the dual stabilizing mechanism, CPC absorbed a 3.0 NT increase for gasoline and a 4.5 NT increase for diesel. International oil price increases were influenced by recovering oil demand and potential future production hikes by the OPEC+. The price adjustment mechanism this week should have increased gasoline and diesel by 2.9 NT and 4.4 NT, respectively. However, to keep prices lower than neighboring Asian countries, CPC decided to absorb part of the increase. Moreover, with the price of 95 unleaded gasoline exceeding 30 NT, the price stability measure was activated, absorbing 25% of the adjustment. Taking into account the government's reduction of excise taxes, gasoline and diesel were reduced by 2 NT and 1.5 NT per liter, respectively. CPC continues to aim for the lowest prices in Asia and stabilize domestic oil prices through stabilization measures. By the end of May, CPC had absorbed approximately 12.943 billion NT dollars this year.
Source: YAHOO