After several weeks of falling numbers, gasoline and diesel prices across Taiwan have been subject to a relatively sharp increase overnight.
The news that prices would rise was hinted at late last week when announcements from two of the world’s largest oil producers, Saudi Arabia and Russia, suggested a drop in production would be enforced to counter plunging prices worldwide.
At the pumps Monday morning in Taiwan all prices were increased by NT$ 0.6 leaving unleaded and diesel prices as follows:
92 Unleaded – NT$ 17.9
95 Unleaded – NT$ 19.4
98 Unleaded – NT$ 21.4
Diesel – NT$ 15.0
Prices in Taiwan are typically adjusted overnight Sunday to Monday.
Just a week ago prices across the island fell to their lowest levels in almost 20 years with 92 unleaded at NT$ 17.3 per liter, and diesel going for NT$ 14.4.
Globally the average gasoline price is US$ 0.95 per liter, although this is expected to rise in the coming weeks.