Taiwan's CPC Hikes Fuel Prices Amid Escalating Middle East Conflict
CPC Corporation Taiwan announced its first fuel price hike in six weeks, effective from midnight on September 14. The increase will be NT$0.7 per liter for gasoline and NT$0.6 per liter for diesel.
The move comes as international oil prices surge due to the escalating Middle East conflict. The 7D3B weekly average oil price indicator reached $115.61 per barrel this week, up $15.79 from the previous week's $99.82.
To mitigate the impact on consumer prices, the Taiwanese government expanded commodity tax reductions and CPC activated its US-Iran War Special Stabilization Mechanism. The combined absorption of NT$10.5 per liter for gasoline and NT$10.8 for diesel significantly compressed the final increase.
Taiwan still maintains the lowest fuel prices among neighboring Asian countries, with 92 octane unleaded gasoline costing NT$31.2 per liter and premium diesel costing NT$29.9 per liter.