Taipei:State-owned oil supplier CPC Corp., Taiwan, announced that it will keep gasoline and diesel prices unchanged for the coming week, despite fluctuations in international crude oil prices.

According to Focus Taiwan, CPC Corp. stated that the retail prices for 92-, 95-, and 98-octane unleaded gasoline will remain at NT$31.2 (US$0.98), NT$32.7, and NT$34.7 per liter, respectively. The price of premium diesel will also stay at NT$29.9 per liter from midnight Sunday through October 18.

This marks the fourth consecutive week that CPC has maintained stable domestic fuel prices, aligning with government efforts to stabilize prices and mitigate inflation, thereby keeping fuel costs lower than in neighboring regions to boost Taiwan's competitive edge.

International crude oil prices have risen this week due to concerns over potential supply disruptions linked to military tensions in the Middle East. Under CPC's pricing mechanism, which is based on a mix of 70 percent Dubai crude and 30 percent Brent crude, the average crude oil price increased from US$112.54 per barrel last week to US$114.65 this week.

The company noted that the appreciation of the Taiwan dollar, which averaged NT$31.810 against the U.S. dollar this week compared to NT$31.850 last week, has somewhat reduced its oil purchasing costs.

Despite keeping retail fuel prices stable, CPC expects to incur a loss of NT$6.9 per liter on gasoline sales and NT$8.7 per liter on diesel sales in the upcoming week. Since the conflict in the Middle East began at the end of February, CPC estimates it has absorbed losses totaling NT$26.79 billion by not fully passing on increased crude oil costs to consumers and businesses.