In a statement yesterday, state-run CPC Corp, Taiwan (CPC, 台灣中油) said yesterday it would raise wholesale gasoline prices NT$0.3 per liter and the wholesale price of diesel NT$0.2 per liter at midnight.
The price adjustment was made to reflect CPC's floating pricing mechanism, which calculated a 1.29 percent increase in the prices of West Texas Intermediate crude oil traded on the New York Merchantile Exchange over the past week.
With the adjustment, the price of 92 octane unleaded gasoline will increase to NT$26.6 per liter, while that of 95 octane unleaded gasoline will be NT$27.3 per liter and 98 octane unleaded will be NT$28.8.
The price of regular diesel will rise to NT$23.3 per liter, while that of premium diesel will be NT$23.8 per liter, while the price of fuel oil will increase by NT$200 per kiloliter to NT$16,593.
Formosa Petrochemical Corp (台塑石化) announced later yesterday it would match its rival's price hikes, effective 2am today.
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