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CPC Freezes Fuel Prices for Ninth Week, Absorbing Over NT$16.6 Billion

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • CPC Corporation announced that domestic gasoline and diesel prices will remain unchanged for the ninth consecutive week.
  • The company has absorbed significant costs, totaling an estimated NT$16.66 billion, due to geopolitical factors in the Middle East.
  • CPC aims to balance market mechanisms with stabilizing domestic prices to mitigate the impact on consumers and industries.

CPC Corporation, Taiwan's state-owned oil company, announced on May 30 that it will freeze domestic gasoline and diesel prices for the ninth consecutive week, effective June 1 to June 7. This decision comes amid persistent uncertainties in the Middle East, which have influenced global oil prices.

The company stated that it will continue to absorb a portion of the price fluctuations to support domestic livelihoods and stabilize prices. For the upcoming week, CPC will absorb approximately NT$1.8 per liter for gasoline and NT$3.3 per liter for diesel. Since the outbreak of the US-Iran conflict on February 28, CPC estimates its total absorption of fuel costs has reached NT$16.66 billion.

CPC aims to balance market dynamics with its commitment to domestic price stability. The company seeks to minimize the impact of international oil price volatility on the daily lives of citizens and the operations of various industries, thereby maintaining overall economic stability.

DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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