Taiwan to Further Cut Commodity Tax on Gasoline, Diesel by 50%

Taiwan’s government will expand cuts to commodity taxes on gasoline and diesel to NT$3.415 per liter and nearly NT$2, respectively, from NT$2 and NT$1.5, according to a cabinet statement citing a decision by the price stabilization task force at a meeting convened in response to the Middle East situation.

• The moves are aimed at ensuring stable consumer prices
• Taiwan has secured LNG supply for March and April, and finalized new international contracts
  • LNG imports from US will increase starting in June, with shipping schedules arranged
• Further adjustments to commodity tax reductions will be reviewed on a rolling basis in light ...