State-run CPC Corp, Taiwan (CPC, 台灣中油) said yesterday it would raise wholesale gasoline prices NT$0.4 per liter and diesel prices NT$0.5 per liter.
The rates, at an all-time-high, went into effect at midnight.
Adjusted retail prices are now NT$30.50 for 98-octane unleaded gasoline; NT$29 for 95-octane unleaded gasoline; NT$28.30 for 92-octane unleaded gasoline; NT$25.80 for premium diesel oil and NT$25.30 for regular diesel, the company said in a statement yesterday.
Formosa Petrochemical Corp (
CPC also said it would raise its price for liquefied natural gas (LNG) 2.99 percent starting this month, as the price of imported LNG this month will be NT$11.94 per cubic meter, higher than the average LNG price during the first six months of this year.
The company lowered its prices for liquefied petroleum gas (LPG). Household LPG went down NT$0.30 per kilogram, industrial-used LPG was down NT$0.33 per kilogram and automobile LPG was reduced NT$0.20 per liter.
Formosa later announced that it would match CPC's rates on household LPG and industrial-used LGP, starting at 10pm yesterday.
Meanwhile, retail prices for fresh milk will go up by at least 10 percent starting next month in response to the rising price of crude, retailers said. Milk will be the latest product to see a price increase, following drinks, water and toilet paper, whose prices went up 10 percent in May.
Retailers have also met escalating pressure from manufacturers of cooking oil and rice to raise prices. The consumer price index in May edged down 0.03 percent year-on-year, its first fall after six consecutive months of gains.
For the first five months of this year, the CPI rose 0.72 percent from a
year earlier, the Directorate General of Budget, Accounting and Statistics
said last month.
With the Ghost Festival -- an important period for retail -- approaching,
hypermarkets have continued to sell their products at promotional prices,
hesitant to become the first operator to revise its prices.
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