Red Sea Crisis Severely Impacts Livelihoods! CPC Absorbs NT$15.7 Billion to Stabilize Prices, Raising Gasoline and Diesel by NT$0.7 and NT$0.5 Respectively

Escalating conflicts in the Middle East have intensified the Red Sea crisis, pushing international oil prices higher. CPC Corporation, Taiwan announced that domestic gasoline and diesel prices will increase by NT$0.7 and NT$0.5 per liter respectively, effective from midnight on the 27th to 11:59 PM on August 2.

To protect livelihoods and stabilize prices, the government has expanded excise tax reductions, absorbing NT$3.7 per liter for gasoline and NT$2.7 for diesel. Additionally, to maintain the lowest retail prices in the region and continue special stabilization measures, CPC will absorb an additional NT$2.3 per liter for gasoline and NT$3.6 per liter for diesel from July 27 to August 2. This brings the total absorption to NT$6.0 per liter for gasoline and NT$5.7 for diesel.

Due to these stabilization measures and cost absorptions, the upcoming price adjustment will be limited to only NT$0.7 for gasoline and NT$0.5 for diesel. The adjusted reference retail prices are as follows: NT$30.5 per liter for 92-octane unleaded gasoline, NT$32 for 95-octane, NT$34 for 98-octane, and NT$29.3 for premium diesel.

Since February 28, CPC has continuously implemented special stabilization measures through July 26, absorbing approximately NT$15.71 billion in total for gasoline and diesel price increases. Competent authorities and relevant ministries continue monitoring global energy market fluctuations, using fiscal and pricing tools to ensure domestic fuel prices remain the lowest among neighboring Asian nations, balancing industrial development with economic stability.