CPC Holds Fuel Prices Steady Amid Easing International Crude Oil Prices
CPC Corp., Taiwan, has announced that it will hold domestic gasoline and diesel prices steady next week despite the easing of international crude oil prices.
The state-owned oil supplier said in a statement that retail prices for 92, 95, and 98-octane unleaded gasoline will remain at NT$30.5, NT$32.0, and NT$34.0 per liter, respectively, from midnight Monday through Aug. 9.
The price of premium diesel will also remain at NT$29.3 per liter during the same period, CPC said. The decision to keep fuel prices unchanged is based on a floating pricing mechanism that takes into account a weighted average of 70 percent Dubai crude and 30 percent Brent crude.
CPC noted that although international crude oil prices fell from US$90.08 per barrel last week to US$83.99 this week, they remain well above pre-conflict levels.