Mon, Oct 08, 2012 - Page 13 News List

CPC to maintain oil prices

By Lisa Wang  /  Staff reporter

The state-owned oil refiner CPC Corp, Taiwan (CPC, 中油) yesterday said it would keep gasoline and diesel prices unchanged on stabilizing global crude oil prices, ending a recent round of price cuts over the past two weeks.

That will lead the nation’s gasoline retail prices to hover at a high of about NT$34 per liter, after the price of 92-unleaded gasoline hit the mark in April for the first time in more than four years and fluctuated after that.

Global crude oil prices inched up 0.27 percent, or US$0.29, to US$109.36 per barrel last week from the previous week’s US$109.07 per barrel. These prices were based on CPC’s pricing mechanism that should have resulted in a 0.08 percent price rise after factoring in foreign exchange fluctuations, according to a company statement posted on its Web site.

This story has been viewed 1588 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top