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Market Chatter: CPC, Formosa to Hold Fuel Prices Steady

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-- CPC Corp Taiwan and Formosa Petrochemical (TPE:6505) will keep domestic fuel prices unchanged this week, extending a fifth straight week of stable pricing despite higher global oil costs, Taipei Times reported Monday.

Retail gasoline prices remain at NT$32.4, NT$33.9 and NT$35.9 per liter for 92, 95 and 98-octane grades, while premium diesel is held at NT$31.0 at CPC stations and NT$30.8 at Formosa pumps, reportedly.

CPC said it is absorbing NT$4.3 per litre for gasoline and NT$6.1 for diesel to cushion consumers, even as international crude prices climbed to about US$110.90 per barrel last week. The company has taken on an estimated NT$13.2 billion in losses since late-February geopolitical tensions began, the news outlet said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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