State-owned oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that it will increase diesel prices by NT$0.1 per liter today, but gasoline prices will not change, citing a rise in international crude oil prices to between US$54 and US$55 last week.
During the past week US crude oil inventories for commercial use have decreased following an agreement by OPEC and other oil exporters to cut production, CPC said.
The refiner calculates its weekly fuel prices based on a weighted oil price formula made up of 70 percent Dubai crude and 30 percent Brent crude.
CPC data showed the average weighted price was US$54.57 last week, up from US$54.06 a week earlier.
Fuel prices at CPC-run gas stations nationwide will be NT$23.1 per liter for diesel, NT$25.3 per liter for 92-octane unleaded, NT$26.8 per liter for 95-octane unleaded and NT$28.8 per liter for 98-octane unleaded, it said.
Formosa Petrochemical Corp (台塑石化), the nation’s only privately owned refiner, announced similar price adjustments, with NT$22.8 per liter for super diesel, NT$25.2 per liter for 92-octane unleaded, NT$26.7 per liter for 95-octane unleaded and NT$29.0 per liter for 98-octane unleaded.
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