It’s not happening only in America. Even here in Taiwan, gas prices are moving up.
Just tonight news was released that effective at midnight tonight, gas prices in Taiwan would be increased by 6 NT/Liter. That shifts the price from 30.7 NT to 36.7 NT per liter nationwide.
Truth be told, it should have been quite a while ago. The former president, Chen Shui-bian, however, didn’t want to do it. He kept putting it off… putting it off, and the government dragged its toes. Just this week the new President, Ma Ying-Jiu has started his term and has finally been forced to do as they can’t wait any longer. I’m sure Chen Shui-Bian was waiting for this in order to let wildly popular President Ma take the heat for such a move, but I doubt it’ll work out the way he wanted.
Searching around, it looks like gas in America is just starting to crest over 4.00/gallon. Doing a bit of basic math, we see that it’s still more expensive in Taiwan.
1 Gallon is 3.78 liters. 36 NT x 3.78 = 136 NT/gallon. The currency conversion rate is current at 30 NT: 1 US dollar, so 136/30 = US 4.53 cents/gallon to fill up the tank. Slightly higher than the US and expected to rise.
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