CPC Keeps Fuel Prices Unchanged Amid High Crude Oil Costs
Taiwan's state-owned oil supplier CPC Corp., Taiwan has announced that domestic gasoline and diesel prices will remain unchanged for a second consecutive week, despite international crude oil prices hovering at high levels.
The recommended retail prices for 92-, 95- and 98-octane unleaded gasoline will stay at NT$31.2 (US$0.98), NT$32.7 and NT$34.7 per liter respectively, while premium diesel will remain at NT$29.9 per liter from midnight Sunday through Oct. 4.
CPC cited international crude oil prices remaining volatile at high levels due to attacks by Houthi rebels in Yemen on areas near Saudi Arabia's port of Yanbu, which has raised market concerns about possible disruptions to crude oil shipment routes through the Red Sea.
In order to ease inflationary pressure and keep domestic fuel prices below those in neighboring markets, CPC has decided not to pass the full increase in crude oil costs on to consumers and businesses.