Overnight, gas prices in Taiwan have hit their lowest levels in 18 years.
Cuts announced on Sunday saw diesel drop to as low as NT$ 15.2, and regular gasoline cut by NT$ 0.08 to just NT$ 18.2 per liter on the island.
Both of Taiwan’s main fuel companies announced the cuts yesterday with both company’s prices coming into effect by 1 a.m. today.
State managed CPC Corporation (CPC) and Formosa Petrochemical Corporation (FPCC) still differ slightly on rates by fuel type purchased as shown below (all prices in NT$):
Fuel Type: CPC . FPCC
Diesel 15.4/l 15.2/l
92 Unleaded . 18.2/l 18.2/l
95 Unleaded 19.7/l 19.6/l
98 Unleaded . 21.7/l 21.7/l
The recent cut in gasoline and diesel prices across Taiwan are largely a result of an ongoing oil-related spat between two major oil producers, Russia and Saudi Arabia that looks to have been compounded by the ongoing COVID-19 pandemic causing havoc across the world.