Mon, Aug 20, 2012 - Page 13 News List

CPC Corp announces plan to hike fuel prices further

By Lisa Wang  /  Staff reporter

State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would raise gasoline and diesel prices by NT$0.6 per liter as global crude prices jumped 2.92 percent last week amid mounting international tensions.

The latest price hikes will bring local fuel prices to a five-year high, close to levels seen during the 2008 global financial crisis, with 95-unleaded gasoline set to hit NT$36 per liter, according to pricing information posted on the CPC Web site.

Global crude oil prices climbed US$3.16 to US$111.39 per barrel last week, up from US$108.23 the week before, based on CPC’s pricing mechanism, which raised CPC’s crude import costs, the firm said.

Formosa Petrochemical Corp (台塑石化) yesterday said it is to raise gasoline and diesel prices by NT$0.6 per liter.

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