TAIPEI (Taiwan News) — Vice Premier Cheng Li-chun (鄭麗君) said Thursday that Taiwan will freeze public transportation fares and delay domestic airfare increases to cushion the economic impact of the Iran War.

Cheng said that since the onset of the war, Premier Cho Jung-tai (卓榮泰) has chaired weekly Monday meetings on stabilizing consumer prices, while she has convened interim meetings every Wednesday, per CNA. The Ministry of Economic Affairs has also been holding daily energy response meetings, alongside irregular inter-agency inspections of market conditions.

To mitigate the impact of the conflict on livelihoods and the economy, Cheng said the Ministry of Transportation and Communications has been instructed to ensure that fares for public transportation, including high-speed rail, conventional rail, metro networks, city buses, and intercity coaches, remain unchanged. Following discussions, adjustments to domestic airline ticket prices have also been temporarily postponed.

On energy supplies, Cheng said crude oil reserves are sufficient through June 20, while natural gas supplies have already been secured from March through May. Of the 15 LNG shipments scheduled for June, 10 have already been procured.

For fuel prices, gasoline and diesel are set at the lowest levels among neighboring countries, with at least 60% of any increase absorbed through an expanded price stabilization mechanism to moderate hikes. Taiwan’s fuel prices remain lower than those in Japan, South Korea, Hong Kong, and Singapore, and the government has introduced three principles to help CPC Corp. absorb rising costs.

As for natural gas, Cheng said household prices will remain frozen in April, while industrial prices will rise by 5%. Prices for bottled liquefied petroleum gas will also remain unchanged for both March and April.