Fuel prices to remain unchanged despite Middle East tensions: CPC

Taipei, March 14 (CNA) State-run fuel supplier CPC Corp., Taiwan said Saturday that domestic gasoline and diesel prices will remain unchanged next week, as the government moves to help stabilize consumer prices.

Reference prices at CPC stations will remain NT$28.90 (US$0.9) per liter for 92-octane unleaded gasoline, NT$30.40 for 95-octane unleaded, NT$32.40 for 98-octane unleaded and NT$28.1 for premium diesel.

CPC said in a statement that international crude oil prices rose sharply this week amid growing concerns over potential supply disruptions in the Middle East, largely driven by Iran's interference with shipping security in the Strait of Hormuz.

Under such circumstances, domestic gasoline and diesel prices would have risen by NT$9.50 (US$0.3) and NT$10.90 per liter, respectively, CPC said.

However, after factoring in the government's policy, CPC said it will absorb the increase, keeping retail prices unchanged next week.

The move seeks to ease the impact of rising international energy costs on consumers and businesses while helping maintain domestic price stability, CPC said.