Taipei: State-run CPC Corp., Taiwan announced on Thursday that natural gas prices for domestic and industrial users will remain unchanged in May, while utility users will experience a 9.34 percent hike to account for elevated import costs.

According to Focus Taiwan, CPC revealed that global spot prices for liquefied natural gas (LNG) remain high, driving up import expenses. Despite these increases, the company will absorb the extra costs for households, commercial businesses, and the service sector as part of the government's price stabilization policy.

CPC clarified that industrial gas prices will also remain unchanged, taking into consideration domestic pricing conditions, the broader economic environment, and the industries' capacity to handle higher costs. Since March, the company has absorbed a cumulative NT$138 billion (US$4.36 billion) in costs for industrial users.

The company emphasized that it has secured a sufficient LNG supply through advance procurement, cargo swaps, and spot purchases. CPC assured that it will continue to monitor global gas market trends and strive to balance operational stability with the government's price stabilization policy when determining future prices.