Taipei: Despite the rising international crude oil prices due to ongoing military conflict in the Middle East, CPC Corp. Taiwan announced on Saturday that domestic gasoline and diesel prices will remain unchanged next week. The benchmark 95-octane unleaded gasoline will continue to be priced at NT$33.9 (US$1.06) per liter. According to Focus Taiwan, the state-owned oil supplier CPC's decision is grounded in a price stabilization mechanism introduced by the Cabinet after the U.S.-Israel conflict with Iran began at the end of February. As a result, retail gasoline prices will hold steady at NT$32.4 for 92-octane, NT$33.9 for 95-octane, and NT$35.9 for 98-octane unleaded gasoline from midnight Monday through April 12. Premium diesel will remain at NT$31.0 per liter. CPC spokeswoman Lin Ke-ju told reporters that the decision to maintain current domestic retail oil prices was made because the average international crude oil price this week was lower than the previous week, although still high due to geopolitical tensions. CPC's stance aligns with government directives to stabilize consumer prices despite the volatile international market. From April 6-12, CPC's domestic retail gasoline and diesel prices are expected to be the lowest among neighboring countries, as the company will absorb NT$6.8 per liter for gasoline and NT$8.8 per liter for diesel. As of Sunday, it is estimated that CPC has absorbed more than NT$9.06 billion in subsidies on domestic retail gasoline prices since the onset of the Middle East conflict on February 28.
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