Taiwan Gasoline Prices Hiked Amid Middle East Tension

Taiwan's state-run energy group CPC Corp., Taiwan has increased gasoline prices due to rising international oil prices caused by Middle East tension. The price hike affects unleaded gasoline and diesel, with prices ranging from NT$0.5 to NT$0.7 per liter more than before.

The new prices for 92-, 95-, and 98-octane unleaded gasoline are NT$30.5 (US$0.94), NT$32.0, and NT$34.0 per liter respectively. Premium diesel will cost NT$29.3 per liter. Although the increases are relatively small, Taiwan's prices are still lower than those in nearby countries, including Japan, South Korea, Singapore, and Hong Kong.

CPC Corp., Taiwan has absorbed a total of NT$15.71 billion in oil price rises since the Iran War on February 28. This move is part of a government policy to limit the impact of energy price rises on local civilians and businesses.