In their first price adjustment after the Lunar New Year holiday, the nation’s two oil refiners yesterday announced they were raising prices for gasoline and diesel fuel.
CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said they would increase gasoline and diesel prices by NT$0.2 per liter, effective today.
“With the political tension in the Middle East, the refinery workers strike in France and the impact of recent US economic data, global oil prices have shown fluctuations in the past few days,” Formosa Petrochemical said in a statement. “Oil prices on average have been much higher than the level by which we adjusted domestic prices [two weeks ago].”
CPC said its price hike reflected a 4.83 percent increase in the company’s average crude oil costs of US$74.98 per barrel during the two weeks between Feb. 12 and Friday, from US$70.69 the previous week.
The refiner said gasoline and diesel prices should have gone up by NT$1.4 per liter this week, including a rise of NT$0.7 per liter seen during the Lunar New Year holiday.
Under the revised prices, 98-unleaded gasoline at CPC gas stations will be NT$30.3 per liter and NT$30.4 at Formosa stations. The two will have the same prices of 95-unleaded gasoline, at NT$28.8 per liter, NT$28.1 for 92-unleaded and NT$25.7 for premium diesel.
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