CPC to leave gasoline, diesel prices unchanged for next week

Taipei, April 11 (CNA) CPC Corp., Taiwan, the country's state-owned oil supplier, said Saturday it will leave domestic gasoline and diesel prices unchanged next week, despite international crude oil prices remaining elevated.

CPC Chairman Fang Jeng-zen (方振仁) told reporters the decision was made in line with government instructions to stabilize consumer prices and ease pressure on local industries amid ongoing military conflicts in the Middle East.

● Imported inflation remains controllable in Taiwan: Central Bank

Fang said CPC also took into account subsidy policies in neighboring markets to ensure Taiwan continues to have the lowest retail gasoline and diesel prices in the region.

Following the decision, retail gasoline prices will remain at NT$32.4 (US$1.02), NT$33.9 and NT$35.9 per liter for 92, 95 and 98-octane unleaded gasoline, respectively, from midnight Monday through April 19, while premium diesel will stay at NT$31.0 per liter.

It will be the second consecutive week that CPC has kept domestic fuel prices unchanged.

The latest pricing is expected to see CPC absorb NT$5.6 per liter for gasoline and NT$7.5 per liter for diesel during April 13-19, though the burden will be lower than this week, Fang said.

Since the outbreak of the U.S.-Israel war against Iran on Feb. 28, CPC is estimated to have absorbed about NT$10.7 billion in costs due to rising international crude oil prices under the government's price stabilization mechanism, Fang added.