a CPC gas station in Taiwan
a CPC gas station in Taiwan

Car and scooter drivers across Taiwan continue to benefit from the global oil glut, caused in large part by the ongoing COVID-19 pandemic.

In an announcement by the oil industry last week, the daily output of around 100 million barrels of oil across the globe was 25% more than the markets could handle.

This coupled to many nations being ‘locked down’ to help counter the spread of the latest coronavirus, means far fewer people are on the roads, and the aviation industry in many areas has all but ground to a halt thus greatly reducing the need for fuel.

As a result, in news that made headlines around the world last week, major oil producing nations were rumored to be paying customers to ‘take away’ the oil produced.

Monday morning gas prices in Taiwan
Today’s price at the pumps

As of Monday morning in Taiwan, prices at the pumps stood at:

92 Unleaded – NT $16.1 / liter

95 Unleaded – NT $17.6 / liter

98 Unleaded – NT $19.6 . liter

Diesel – NT $13.0 / liter

Registering no new cases of the virus again yesterday, Taiwan is one of the few nations around the world in which citizens are leading a relatively normal life.

Gas prices are slowly expected to start increasing again by the summer, however, as more and more countries announce the relaxing of home quarantine rules, and ease lockdown regulations.

You May Also Like

Fitness Club Shut Due To Coronavirus Fears

despite a requirement (for) self-quarantine … club member chose to visit the Yawei fitness club

Taiwan to Impose Health Declaration Forms on All Visitors

Those failing to accurately do so face a fine of up to NT$150,000

Despite Trade War, Taiwan Raises Economic Forecast For 2020

The ongoing US-China trade war seems to be impacting everyone, except perhaps…

In Taiwan, Southeast Asians Find Roots In A Bookstore

Humans often tend to create and sustain differences between each other. In…