The Taiwan government is not ruling out freezing gasoline prices again in January, Minister of Economic Affairs Steve Chen said yesterday.
A price freeze already took effect in December as the margin of international oil price increase exceeded the threshold for a suspension of Taiwan's gasoline price-floating system.
The price-floating mechanism adopted by the state-run CPC Corp. uses Brent crude price and Dubai oil price as determinants for price changes. Both indices have fallen to the US$86.5-a-barrel level, some US$2 lower from that of November.
He added any change to gasoline prices must be made based on careful evaluation of how such change would affect the economy.
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Taiwan to Freeze Gas Prices
The government is not ruling out freezing gasoline prices again in January, Minister of Economic Affairs Steve Chen said yesterday