TAIPEI (Taiwan News) — Liquefied petroleum gas prices will remain stable through June, Premier Cho Jung-tai (卓榮泰) said during a meeting on Monday.
Cho said the government will continue absorbing additional LPG cost increases in June to maintain price stability, according to a Cabinet press release. He thanked CPC Corporation and Formosa Plastics for cooperating with government price stabilization policies.
He noted that CPC Corporation and Taiwan Power Company had worked hard to stabilize fuel and electricity prices, while Formosa Plastics refrained from raising prices out of a sense of corporate social responsibility.
Cho urged government ministries to maintain existing standards and policy goals and closely monitor market developments. He said they should also respond promptly to changes, make every effort to stabilize the consumer price index, and maintain public stability.
The premier said that over the past three months, most countries have experienced economic shocks and price volatility significantly greater than Taiwan’s. He attributed Taiwan’s relative stability to ministries’ efforts to secure oil and gas supplies from multiple sources.
Cho expressed hope for stability in the Middle East so that global energy supplies could return to normal.
