Retail prices for domestic gasoline and diesel fuel to decrease by NT$1.1 and NT$1.4 respectively
Revised Article:
Hey there! Here's the scoop on the newest development in Taiwan's fuel market.
By Nikki Nguyen / Fuel Reporting Maven
Prepare to fill up your tank, as gasoline and diesel prices are expected to take a dive this week! According to CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化), international crude oil prices have been on a downward spiral for the past couple of weeks, and as a result, domestic fuel station prices are set to drop.
Why's the price of crude oil falling, you ask? Fear not, for I am here to provide the deets. It seems that traders are worried that ongoing US-China trade disputes could ignite a global recession and curb oil demand. Adding fuel to the fire, the Saudis and some OPEC+ members are mulling over plans to ramp up crude oil production next month. It's like they're aiming to douse the flames of high oil prices!
So, how much can you expect to save at the pump? Front-month Brent crude oil futures (the international benchmark) tumbled 6.85% last week, landing at $61.29 per barrel. West Texas Intermediate crude oil futures (the US benchmark) also took a hard hit, dropping 7.51% to $58.29 per barrel.
Good news for your wallet! Effective immediately, gasoline prices at CPC and Formosa stations will dip to NT$27.2, NT$28.7, and NT$30.7 per liter for 92, 95, and 98-octane unleaded gasoline, respectively. Premium diesel will now cost you just NT$25.7 per liter at CPC stations and NT$25.5 per liter at Formosa pumps, the companies said.
It's worth noting that gasoline and diesel prices are impacted by fluctuations in international crude oil prices. So, it's no surprise that these anticipated decreases in prices are thanks to similar external factors, such as a continued drop in international crude oil prices.
Just a heads up: The search results didn't reveal any specific predictions for this week's price drops in Taiwan. But with the trends we've been seeing in the global oil market, it looks like it's a veritable fuel sale! Just remember, happy motoring! 😉
Enrichment Data:- Recent Price Changes (as of May 9, 2025): Current gasoline prices in Taiwan remain unchanged from late April 2025, while premium diesel prices experienced a decrease on May 4, 2025.- Factors Influencing Price Changes: Decreases in international crude oil prices due to trade disputes and fears of a global recession are causing a drop in gasoline and diesel prices in Taiwan. Continued fluctuations in global oil markets may impact local fuel prices.
Sources:1. Taiwan News. (2025, May 9). Premier Lee says Taiwan to brace for rise in global oil prices. Retrieved from https://www.taiwannews.com.tw/en/news/41136452. CNA. (2025, April 24). Local gasoline, diesel prices to remain stable next week: CPC. Retrieved from https://www.cna.com.tw/news/acn/202504240023.aspx3. FocusTaiwan. (2025, April 15). Crude oil prices drop as trade disputes raise global economic concerns. Retrieved from https://focustaiwan.tw/politics/202504150014
The decrease in international crude oil prices, which is mainly due to global economic concerns caused by ongoing US-China trade disputes and fears of a potential recession, is expected to greatly impact the finance sector as it could affect the profit margins of oil and energy companies within the industry. As a result, Taiwan's fuel market, specifically CPC Corp and Formosa Petrochemical Corp, is anticipated to witness a significant drop in domestic fuel station prices.
