Taiwan Fights Oil Price Surge: Stabilizes Fuel Costs Amid Middle East Conflict

• Taiwan launches "dual price-smoothing" mechanism to limit gasoline and diesel price hikes despite global surge.
• State-run CPC Corp. will absorb 60% of fuel price increases; Cabinet implements 50% commodity tax cut on imports.
• Subsidies of 50% and 14% will be provided for fuel costs in the agricultural and fishing sectors, respectively.
• Economics Minister Kung Ming-hsin confident about natural gas supply, secured 20 of 22 needed LNG carriers.
• CPC Corp. currently has no plans to raise LNG prices, even as global JKM natural gas prices surged over 51%.