Gas Prices In Taiwan At Lowest Level Since 2002

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.