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CPC and Formosa announce price hikes

Both CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday they were hiking prices for gasoline and diesel products by NT$0.50 per liter to reflect rising fuel costs. The new rates are effective today.

However, the two companies said they would continue to offer preferential prices at gas stations in about 20 townships in Nantou, Chiayi, Kaohsiung, Pingtung and Taitung counties that were severely affected by Typhoon Morakot.

The discounts for these areas are NT$2.50 per liter for gasoline and NT$1.50 for diesel at CPC stations, while discounts at Formosa stations will be NT$3.20 per liter for gasoline and NT$2.30 for diesel, the statements said.

In related news, former CPC chairman Regis Chen (陳朝威) passed away on Thursday morning after suffering a heart attack. Chen, 62, served as CPC chairman between 1998 and 2002, the company said.
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