Taiwan Keeps Fuel Prices Unchanged Amid Global Oil Price Volatility
Taiwan's two major oil refiners, CPC Corp, Taiwan and Formosa Petrochemical Corp, have decided to keep domestic gasoline and diesel prices unchanged for a second consecutive week.
The decision comes despite volatile international crude oil prices, which have been affected by recent attacks on Saudi Arabia's port of Yanbu in Yemen. According to data from the Intercontinental Exchange, front-month Brent crude oil futures rose 0.43 percent last week to settle at US$104.32 per barrel.
CPC said it has chosen to maintain prices below those in neighboring markets to help Taiwan remain competitive. The company will keep retail gasoline prices at NT$31.2, NT$32.7, and NT$34.7 per liter for 92, 95, and 98-octane unleaded gasoline respectively.
Premium diesel prices will also stay unchanged at NT$29.9 per liter at CPC stations and NT$29.7 per liter at Formosa pumps.