Taiwan Gas Prices Unchanged for Fifth Week

Taiwan's domestic gasoline and diesel prices have remained steady for the fifth consecutive week, according to CPC Corp, Taiwan. The company announced that it would not increase prices this week, citing a decrease in international crude oil prices last week.

The average international crude oil price fell to US$91.56 per barrel from US$93.01 per barrel the previous week, thanks to a stronger New Taiwan dollar against the US dollar.

CPC has absorbed an estimated NT$18.03 billion (US$570.06 million) in losses since the Middle East war started in February by not passing on higher international crude oil costs to consumers and businesses.