State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would keep unchanged the price of gasoline and diesel products as global crude oil prices were little changed amid the eurozone crisis.
The global crude oil price slid 0.26 percent last week to US$105.5 per barrel from US$105.77 in the prior week based on CPC’s own pricing mechanism, CPC said in a statement posted on its Web site.
CPC has absorbed an increase of NT$3.3 per liter on gasoline and NT$3.2 per liter on diesel to cope with the government’s policy of keeping consumer prices stable since December last year, it said.
In total, the company has absorbed NT$25.2 billion (US$832 million) in cost increases, it added.
CPC plans to pass the costs on to consumers at a later date, it said.
Formosa Petrochemical Corp (台塑石化), the nation’s only private oil refiner, had not posted its latest pricing, but it usually matches CPC’s price adjustments.