State-run CPC Corp, Taiwan (CPC, 中油) yesterday said it will raise gasoline and diesel prices by NT$0.1 per liter as global crude oil prices rose on concern about possible disruption of crude oil exports from oil-rich Middle East amid political tension there.
Global crude oil prices inched up 0.39 percent, or US$0.42, to US$107.85 per barrel last week, compared with US$107.43 per barrel in the prior week, CPC said in a statement posted on its Web site.
CPC said the New Taiwan dollar’s deprecation of NT$0.021 last week versus the US dollar added to the already rise in import cost for crude oil.
Prices for gasoline and diesel products should go up by 0.37 percent on average this week, without connoting in taxes, CPC said.
CPC’s sole rival, Formosa Petrochemical Corp (台塑石化), yesterday also said it would hike prices of its gasoline and diesel products by NT$0.1 per liter.