Household gas, LPG prices to be frozen in April: Cabinet

Taipei, March 27 (CNA) Taiwan's Cabinet has adopted a series of measures in response to the impact of Middle East tensions on global energy markets and prices, including keeping household natural gas and liquefied petroleum gas (LPG) prices unchanged in April.

Vice Premier Cheng Li-chiun (鄭麗君) approved the measures, which also include freezing fertilizer prices, during a price stabilization meeting she led on Thursday.

At the meeting, the vice premier said that household natural gas and LPG prices are closely tied to dining and restaurant costs and that to stabilize prices, she instructed state-run oil supplier CPC Corp. Taiwan to keep April prices for household natural gas and LPG unchanged.

She also directed the Ministry of Economic Affairs (MOEA) to coordinate with major domestic suppliers to stabilize LPG prices.

In addition, Cheng asked government agencies to closely monitor the supply and prices of key daily necessities such as plastic bags and establish a platform to stabilize the supply of medical consumables to ensure no shortages or disruptions.

Taiwan has reportedly faced a shortage of plastic bags because the American and Israel war on Iran in the Middle East has affected global petrochemical feedstock supplies.

In a post-meeting statement, the Cabinet said domestic oil and natural gas reserves currently exceeded statutory requirements, with natural gas supplies fully secured from March through May.

Imports of non-Middle Eastern natural gas will be increased starting in June, it said.

Natural gas accounts for roughly half of Taiwan's electricity generation.