Mon, May 19, 2014 - Page 13 News List

Gasoline, diesel prices to rise by NT$0.3

By Lisa Wang  /  Staff Reporter

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.

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