TAIPEI — CPC Corporation, Taiwan’s state-run oil supplier, announced on Saturday that it will lower gasoline prices by NT$0.2 per liter starting 12:00 a.m. on July 14, while diesel prices will remain unchanged.
The new retail fuel prices will be as follows:
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92-octane gasoline: NT$26.8/liter
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95-octane gasoline: NT$28.3/liter
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98-octane gasoline: NT$30.3/liter
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Super diesel: NT$25.6/liter
CPC explained that although international oil prices climbed this week—largely due to Saudi Arabia’s decision to raise crude oil prices for Asia—the company opted to absorb part of the cost increase to maintain fuel prices below those of neighboring Asian countries.
Based on Taiwan’s floating oil price adjustment mechanism, gasoline and diesel prices were initially expected to rise by NT$0.5 and NT$0.4 per liter, respectively. However, CPC chose to absorb NT$0.7 per liter for gasoline and NT$0.4 per liter for diesel, effectively offsetting the planned hike.
The company emphasized that its pricing decision is aligned with government efforts to stabilize consumer costs, including a reduction in commodity taxes. CPC also noted that it continues to offer the lowest fuel prices in the region, even as it absorbs additional costs to shield consumers from global price volatility.
As of the end of June, CPC said it has absorbed approximately NT$4.94 billion in price increases to help stabilize the domestic fuel market.
