The Ministry of Economic Affairs has asked government agencies to inspect fuel storage facilities at 42 gas stations that have purchased 10 kiloliters more petroleum products per day recently than their daily average for last month, as part of efforts to crack down on illegal gasoline hoarding.
In a bid to forestall any illegal profiteering practices, Minister of Economic Affairs Yiin Chii-ming (尹啟銘) inspected two gas stations in Taipei County on Monday.
During the inspection, he said that the ministry had asked every city and county government, as well as the Fair Trade Commission, to complete inspections of fuel storage conditions at the 42 gas stations this week.
Yiin said that the ministry would not allow any gasoline stations to hoard petroleum products.
He said those caught hoarding would face fines and that CPC Corp, Taiwan (CPC, 台灣中油) would retrieve the hoarded products from those stations.
CPC statistics indicated that in addition to the 42 stations, about 600 filling stations saw an increase of more than 20 percent in the amount of petroleum products they purchased every day from the state company compared with last month.
Yiin was unwilling to disclose the locations and names of the 42 stations, but said that some stations’ average procurement volumes were even double their procurement last month.
The increase in demand does not mean the 42 stations engaged in illegal hoarding, Yiin said, adding that it could be the result of the shift of a large number of customers to CPC’s contracted stations following price hikes by its private competitor, Formosa Petrochemical Corp (台塑石化).
CPC has not raised its prices since last November despite skyrocketing global prices, as the previous government, which left office on May 20, feared lifting a cap on prices would cause inflation to soar further.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Chizuko Kimura has become the first female sushi chef in the world to win a Michelin star, fulfilling a promise she made to her dying husband to continue his legacy. The 54-year-old Japanese chef regained the Michelin star her late husband, Shunei Kimura, won three years ago for their Sushi Shunei restaurant in Paris. For Shunei Kimura, the star was a dream come true. However, the joy was short-lived. He died from cancer just three months later in June 2022. He was 65. The following year, the restaurant in the heart of Montmartre lost its star rating. Chizuko Kimura insisted that the new star is still down
While China’s leaders use their economic and political might to fight US President Donald Trump’s trade war “to the end,” its army of social media soldiers are embarking on a more humorous campaign online. Trump’s tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin. Trump says his policy is a response to years of being “ripped off” by other countries and aims to bring manufacturing to the US, forcing companies to employ US workers. However, China’s online warriors
RSS