State-run CPC Corp, Taiwan (CPC, 台灣中油) and private oil refiner Formosa Petrochemical Corp (台塑石化) yesterday announced that wholesale gasoline and diesel prices for the week of June 20 through June 26 would rise by NT$0.70 and NT$0.90 per liter respectively.
The wholesale price for alcohol-gasoline blends for motor vehicles will also rise by NT$0.70 per liter, CPC said in a statement.
The latest price adjustments mark the state refiner’s seventh straight week of price increases for domestic fuel consumption amid rising global crude oil prices.
Based on CPC’s floating price mechanism, the company’s cost for oil purchases increased 1.39 percent in the week from June 12 to June 18, following a rise of 4.5 percent in the previous week, it said in the statement.
Following the adjustments, the wholesale price for 98-octane unleaded gasoline would rise to NT$30.20 — its highest price in eight months and up NT$2.60 per liter from NT$27.60 per liter on May 9, CPC data showed.
Meanwhile, the wholesale prices for 95-octane unleaded gasoline will be NT$28.70 per liter and NT$28 per liter for 92-octane unleaded gasoline.
The price of alcohol-gasoline blends will be NT$28.7 per liter, while those of regular and premium diesel will increase to NT$25, it said.
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