CPC: Gasoline and Diesel Prices Frozen for 7th Consecutive Week, Cumulative Absorption Exceeds NT$14.8 Billion

With the ongoing Middle East conflict and soaring international oil prices, CPC Corporation announced a seventh consecutive freeze on gasoline and diesel prices. From midnight on May 18th to midnight on May 24th, the prices of gasoline and diesel will remain unchanged.

The retail reference prices are: 92 unleaded gasoline at NT$32.4 per liter, 95 unleaded gasoline at NT$33.9 per liter, 98 unleaded gasoline at NT$35.9 per liter, and super diesel at NT$31 per liter.

CPC stated that due to the volatile situation in the Middle East and rising international oil prices, and considering the still high subsidies in neighboring Asian countries, CPC will continue to absorb costs to maintain the lowest prices in the region for domestic consumers. From May 18th to May 24th, CPC will absorb NT$3.3 per liter for gasoline and NT$5.0 per liter for diesel, an increase in the absorption amount compared to last week.

From February 28th, when the US-Iran conflict began, to May 17th, according to the floating oil price mechanism (lowest in neighboring Asian countries) and the special anti-conflict stabilization mechanism, Taiwan CPC estimates a cumulative absorption amount of approximately NT$14.82 billion for gasoline and diesel. CPC stated that it hopes to minimize the impact on people's daily lives and industrial operations while balancing market mechanisms, and to continue maintaining domestic price stability. (Edited by Lin Shu-yuan) 1150516