State-run oil refiner CPC Corp, Taiwan (CPC, 中油) yesterday said it will keep its retail prices for gasoline and diesel unchanged as global crude oil prices stabilized.
Global crude prices edged slightly lower to US$107.11 per barrel last week, from US$107.12 in the week before, based on CPC’s pricing scheme, the statement said. That led to a 0.02 percent decrease in domestic fuel prices, after factoring in a NT$0.01 depreciation in the local currency against the US dollar, it added.
“Global crude oil prices rose because of concern over a series of protests in oil-rich Lybia early last week. However, the prices fell back after the US reported higher-than-expected crude stockpiles,” CPC said in the statement.
CPC’s sole rival, Formosa Petrochemical Corp (台塑石化), yesterday also announced that it would its gasoline and diesel prices would remain unchanged next week.