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

-- 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.

The state-run firm also considered subsidy policies in neighboring markets to ensure Taiwan continues to have the lowest retail fuel prices in the region, CPC Chairman Fang Jeng-zen reportedly said.

Meanwhile, Formosa Petrochemical said it aligned its pricing with CPC after factoring in global oil trends, exchange rates and domestic competition, the newspaper reported.

Effective Monday, gasoline prices remain at NT$32.4, NT$33.9 and NT$35.9 per liter for 92, 95 and 98-octane fuel, respectively, while premium diesel stays at NT$31 at CPC stations and NT$30.8 at Formosa outlets, the report 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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