Mon, Feb 20, 2012 - Page 12 News List

CPC, FPC raise gasoline, diesel prices

By Lisa Wang  /  Staff Reporter

State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would raise gasoline prices by NT$0.2 per liter and diesel products by NT$0.3 per liter, reflecting an increase in costs after an increase in global crude oil prices.

The global crude oil price increased US$2.67 per barrel, or 2.3 percent, to US$117.42 last week from US$114.75 the previous week, supported by the expectation that Greece was close to solving its debt crisis and an improving US economy, the company said in a statement posted on its Web site.

CPC said it did not pass the fullcost on to consumers as the rise in global crude oil prices would have resulted in a 1.93 percent increase in gasoline and diesel prices, based on its pricing scheme, CPC said.

Formosa Petrochemical Corp (FPC, 台塑石化), the nation’s only private-run oil refiner, yesterday increased gasoline prices by NT$0.2 per liter and diesel prices by NT$0.3 per liter.

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