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Market Chatter: Taiwan's CPC, Formosa to Keep Domestic Fuel Prices Unchanged

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State-owned CPC Corp., Taiwan, and Formosa Petrochemical (TPE:6505) plan to keep domestic fuel prices unchanged this week despite elevated global crude oil prices, after the government gave directives to stabilize consumer prices and ease cost pressures, Taipei Times reported Monday.

Prices for 92, 95 and 98-octane gasoline will reportedly remain at NT$32.4, NT$33.9 and NT$35.9 per liter respectively. Premium diesel prices will stay at NT$31.0 per liter at CPC stations and NT$30.8 at Formosa stations.

CPC said average global oil prices fell to $102.97 per barrel last week from $110.90 a week earlier. The company added it has absorbed about NT$14.18 billion in losses since late February to help ease fuel cost pressures on consumers and businesses, 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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