Mon, Jun 20, 2011 - Page 12 News List

CPC maintains gas prices

By Lisa Wang  /  Staff Reporter

The state-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would keep its gasoline and diesel fuel prices unchanged as global crude oil prices held steady and demand could weaken on concern over the Greek debt crisis.

A stronger US dollar against the world’s major currencies also helped curb the rise in global crude oil, CPC said in a statement posted on its Web site.

The crude oil price advanced to US$112.33 per barrel last week, compared to US$112.32 per barrel in the previous week, according to CPC’s statement.

That, along with the depreciation of the New Taiwan dollar against the US dollar, originally would prompt a price hike of NT$0.1 per liter for CPC’s gasoline and diesel products, CPC said. The oil refiner decided to halt the price increase to help the government stabilize consumer prices.

The new price tariff takes effect today.

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