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CPC Freezes Gasoline and Diesel Prices Amid Ongoing Middle East Turmoil

Guavy AI Editorial Team
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Oil
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Taiwan's CPC Corporation has announced that domestic gasoline and diesel prices will remain unchanged from August 17 to 23, absorbing an additional NT$2.2 and NT$3.5 per liter respectively this week.

This brings cumulative absorption since February 28 to approximately NT$16.6 billion (approximately $518.7 million) for CPC, which has used its special stabilization mechanism to stabilize domestic fuel prices amidst ongoing Middle East turmoil and rising international oil price volatility.

CPC stated that the government has expanded commodity tax reductions while continuing the Iraq War special stabilization mechanism to support domestic livelihoods and stabilize prices.

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