Taipei: State-run CPC Corp., Taiwan announced that natural gas prices for residential and industrial users will remain unchanged in July, while gas prices for utility users will decrease by 4.72 percent to reflect lower import costs.

According to Focus Taiwan, CPC has decided to freeze natural gas rates for residential, commercial, service, and industrial users to support the government's price stabilization measures. The company is absorbing the additional costs to alleviate the financial burden on the public. Since March, CPC has covered a cumulative NT$140 billion (US$4.40 billion) in costs for industrial users.

For utility users, CPC confirmed a 4.72 percent reduction in natural gas prices for July. The company highlighted that although international oil and gas prices have declined following a cooling of Middle East tensions, the outlook for U.S.-Iran negotiations remains uncertain.

Additionally, Taiwan Power Co. reported that despite the 4.72 percent price cut for July, the 50.9 percent increase in natural gas rates during April and May will still add approximately NT$11 billion to its monthly fuel expenditure.