Amid rising oil prices worldwide, Taiwan''s state-run refiner CPC said starting at midnight, gasoline prices will go up by NT$0.8 per liter, and diesel NT$0.9. The price adjustment will push fuel prices to a 3-year high, of which the most widely-consumed 95 unleaded will reach NT$31 per liter.

CPC said if adjusted according to the floating pricing formula, gasoline and diesel prices should be raised by NT$2 and NT$3.2, respectively. But in order to keep fuel prices at the lowest in Asia and after activating the government''s Price Stabilization Measures, CPC will absorb the NT$1.2 and NT$2.3 differences. As of last month, CPC had absorbed a total of NT$5.756 billion in 2021.