State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would keep gasoline prices unchanged, reflecting lower costs after global crude oil prices rose by a slight 0.77 percent.
However, CPC will cut its diesel price by NT$0.1 per liter, according to a statement posted on its Web site.
Global crude oil prices increased by US$0.84 per barrel to US$109.95 last week, up from US$109.11 the week before, on the expectation that Greece was close to reaching an agreement with creditors to fix its debt problems, CPC said.
In addition, the strong New Taiwan dollar also offset rises in importing crude, CPC said. The NT dollar rose 1.73 percent last week to NT$29.525 against the US dollar.
Formosa Petrochemical Corp (台塑石化), yesterday also said it would keep gasoline prices stable, while lowering prices for its diesel by NT$0.1 a liter, according to a company statement.