State-run CPC Corp, Taiwan (CPC, 台灣中油) said yesterday it would raise wholesale gasoline and diesel prices by NT$0.1 per liter, effective today.
The refiner said in a statement that it would absorb the costs of rising international crude oil prices despite a pricing formula that would see it increase wholesale gasoline prices by NT$0.3 per liter and diesel prices by NT$0.4 per liter respectively.
The weekly price adjustment was made using CPC’s floating price mechanism, which showed an increase of 3.5 percent in the refiner’s oil cost at US$79.77 per barrel in the week from Jan. 1 to Friday from the previous week.
Also, the local currency’s averaged exchange rate gained 1 percent to reach NT$31.878, the statement said.
Under the price adjustment, CPC’s wholesale price of 92-octane unleaded gasoline rose to NT$30.10 per liter, 95-octane unleaded gasoline to NT$30.80 per liter and 98-octane unleaded to NT$32.30 per liter.
The price of alcohol-gasoline blends is now NT$30.8 per liter, while that of regular and premium diesel has risen to NT$27.70 each.
Formosa Petrochemical Corp (台塑石化) said on its Web site yesterday that it would match CPC’s adjustment.
Wholesale prices at Formosa are the same as at CPC, except for 98-octane unleaded gasoline, which sells for NT$32.40 per liter.
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