Commodities
CPC Keeps Fuel Prices Unchanged Amid Declining Oil Costs
CPC Corp., Taiwan, has announced that it will keep domestic retail gasoline and diesel prices unchanged for another week. The company cited the floating pricing mechanism, which takes into account a weighted average of 70% Dubai crude and 30% Brent crude oil prices.
The average international crude oil price fell from US$83.99 per barrel last week to US$82.20 this week after the United States canceled plans to strike Iran.
CPC estimated that it will still incur losses of NT$0.5 per liter on gasoline and NT$1.6 per liter on diesel next week, despite the decline in international crude prices.