CPC Corp, Taiwan (台灣中油) announced on Saturday that it would hold domestic gasoline and diesel prices steady this week despite easing international crude oil prices.Retail gasoline prices this week are to remain at NT$30.5, NT$32.0 and NT$34.0 per liter for 92, 95, and 98-octane unleaded gasoline, respectively, CPC said in a statement.The price of premium diesel is also to stay at NT$29.3 per liter this week, the company said.
A CPC Corp gas station is pictured in Taipei on April 11.
CPC said its floating pricing mechanism, based on a weighted average of 70 percent Dubai crude and 30 percent Brent crude, showed that the average international crude oil price fell to US$83.99 last week from US$90.08 per barrel the previous week, as increased flows through the Strait of Hormuz eased supply concerns.Although crude oil prices fell during the week, they remained well above levels seen before tensions escalated in the Middle East, it said.
Separately, CPC said it would also keep domestic liquefied petroleum gas (LPG) prices unchanged this month to ease the burden on households and maintain price stability.While geopolitical conflicts in the Middle East escalate and push up shipping costs, prices for LPG cylinders, industrial propane, butane, propane-butane fuel mixtures and automotive LPG would remain unchanged from last month, it said.
