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CPC to raise its oil price on Tuesday

The state-run CPC Corp, Taiwan (CPC, 台灣中油) will tomorrow announce an increase of NT$1.2 to NT$1.3 per liter in the price of oil, a rise of 6.79 percent, a company official said yesterday.

The new price system will take effect at midnight the following day, the official said.

Under an amended floating fuel pricing mechanism that was implemented this month, the company is obliged to adjust fuel prices on the first day of each month and to put the adjustment into effect the next day.

Minister of Economic Affairs Steve Chen (陳瑞隆) yesterday initiated a "green government vehicle" program in which all vehicles owned by the central government and the Taipei City Government will begin using E3 biofuel.

Biofuel

Meanwhile, eight gas stations run by CPC in Taipei began offering the biofuel yesterday.

Under the Energy Bureau's plan, all gas stations in Taipei and Kaohsiung will be offering E3 biofuel by 2009, with the rest of the nation following suit by 2011.

The ethanol fuel used in the green government vehicle program is made from sweet potatoes grown by the Agriculture and Food Agency on a trial basis last year.

The CPC gas stations offering E3 biofuel are on Wenlin, Zhonglun, Linsen N, Heping W, Xinyi and Nangang roads and Longan and Fuyang streets.
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