State-run CPC Corp, Taiwan (CPC, 中油) yesterday said it would hike gasoline and diesel prices by NT$0.3 per liter after global crude oil prices rose on tensions in Ukraine and the upcoming summer consumption season.
The West Texas Intermediate crude and Brent crudes reached a high of US$102 and US$101 respectively, CPC said in a statement posted on its Web site.
Prices for global crude oil rose 1.11 percent to US$106.66 per barrel last week, compared with US$105.49 in the prior week.
That brought the domestic fuel price up 0.98 percent last week after a weak New Taiwan dollar versus the US dollar added to rising import costs.
The NT dollar depreciated NT$0.036 against the greenback to NT$30.207 last week, CPC said.
Formosa Petrochemical Corp (台塑石化 ) said it would also increase its gasoline and diesel prices by NT$0.3 a liter.