CPC cuts gas prices, raises diesel amid oil fluctuations

TAIPEI (TVBS News) — The CPC Corporation, a subsidiary of the Ministry of Economic Affairs (MOEA), announced on Sunday (Dec. 17) that gasoline prices will decrease by NT＄0.3, while diesel prices will increase by NT＄0.3, effective midnight Monday. This adjustment is part of the ongoing implementation of the dual stabilization mechanism for oil pricing.

These pricing measures absorbed NT＄0.2 for both gasoline and diesel this week. This decision was made following a US＄1.61 decrease in the 7D3B weekly average price, a benchmark composed of 70 percent Dubai and 30 percent Brent crude oil. This resulted in a 1.76 percent reduction in domestic oil prices.

Initially, according to the floating oil pricing mechanism, gasoline prices were set to decrease by NT＄0.1, while diesel prices were expected to rise by NT＄0.5. However, due to currency appreciation in neighboring Asian countries last week, Taiwan's price adjustments for the week remained unchanged for both fuel types.

CPC stated that it would continue to adjust domestic fuel prices in line with the oil pricing formula and government tax reductions, aiming to maintain competitive prices in Asia and stabilize domestic oil prices through its measures.

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