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    Posted March 18, 2008 by
    shencypeter
    Location
    Taipei, Taiwan
    Assignment
    Assignment
    This iReport is part of an assignment:
    Pain at the pump

    Gas Prices in Taiwan

     

     

    The cost of Midgrade fuel (Research Octane 95) in Taiwan is currently NT$ 30.7 per liter, which comes out to about US$ 3.76 per US Gallon. In 2003, the price was NT$ 19.8, so the prices have gone up as much as 150% in the past five years.

     

     

    The periodic increases in gas prices, determined by a proportion of the month-to-month changes in the market price of crude oil, literally "fueled" rapid inflation of goods in our country, and thus the saying goes "The price of everything, except your employer's salary, is on the rise." Most communiters ride around in 125 cc scooters with an appealing mileage of 70 city-mpg. They barely remember when they could fill up their 2-gallon tanks for under NT$ 100. (US$ 3.24).

     

     

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