Market Chatter: CPC to Hold Domestic Fuel Prices Steady This Week Despite Crisis
State-owned CPC Corp., Taiwan will keep domestic gasoline and diesel prices unchanged for the coming week, under the government efforts to stabilize consumer prices amid volatile global crude oil markets, Focus Taiwan reported Saturday.From midnight Monday to May 3, gasoline prices will remain at NT$32.4, NT$33.9 and NT$35.9 per litre for 92, 95 and 98-octane grades, respectively. Premium diesel will also stay unchanged at NT$31.0 per litre, the news outlet said.It marks the fourth straight week that the state-owned oil supplier has held fuel prices steady, despite ongoing geopolitical tensions in the Middle East. The company estimates it will absorb losses of NT$2.7 per litre for gasoline and NT$4.4 for diesel next week, as it continues to keep local prices below regional levels to help contain inflation, reportedly.(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.)