State-run CPC Corp, Taiwan (CPC, 台灣中油) said yesterday it would hike its wholesale gasoline price by NT$0.4 per liter and diesel prices by NT$0.2 per liter, effective today.
The refiner also announced price hikes in the wholesale prices of alcohol-gasoline blends for motor vehicles by NT$0.4 per liter, also taking effect today, CPC said in a statement.
The weekly price adjustment was made using CPC’s floating price mechanism, which showed an increase of 2.6 percent in the refiner’s oil cost in the week from May 22 to Thursday from the previous week.
Under the latest price adjustments, CPC’s wholesale price of 92-octane unleaded gasoline is rising to NT$26.5 per liter, 95-octane unleaded gasoline will cost NT$27.2 per liter, while 98-octane unleaded will cost NT$28.7 per liter.
The price of alcohol-gasoline blends is NT$27.2 per liter, while those of regular and premium diesel have increased to NT$23.6 each.
Yesterday, Formosa Petrochemical Corp (台塑石化) decided to match the CPC’s weekly price hikes for next week. The privately run refiner maintained its price adjustments for this week during a decision-making meeting last Friday.
Therefore, wholesale prices at Formosa are slightly cheaper than CPC’s, as the price for 92-octane unleaded gasoline is NT$23.8 per liter, NT$24.5 for 95-octane and NT$26.1 for 92-octane.
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