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CPC, Formosa raise gasoline prices

State-run CPC Corp, Taiwan (CPC, 台灣中油) announced yesterday it would raise wholesale gasoline prices NT$0.6 per liter and diesel prices NT$0.7 per liter.

CPC's new rates went into effect at midnight yesterday, while smaller private rival Formosa Petrochemical Corp (台塑石化) said it would raise its wholesale diesel prices to match CPC's, at 2am today.

The adjusted retail price for 98-octane unleaded gasoline is now NT$30.1, 95-octane unleaded gasoline is NT$28.6, 92-octane unleaded gasoline is NT$27.9, premium diesel oil is NT$25.3 per liter and regular diesel is NT$24.8 per liter, the company said in a statement yesterday.

The adjustment was in line with the policy of raising prices in Taiwan by 80 percent of the price fluctuation of West Texas Intermediate crude oil traded on the New York Mercantile Exchange, which increased 3.78 percent over the past week, CPC said
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