Mon, Mar 06, 2017 - Page 16 News List

CPC to leave diesel and gasoline prices alone for this week

Staff writer

State-owned refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that it would not adjust its gasoline and diesel prices this week, in view of little change in global crude oil prices last week.

CPC said its average crude oil costs dropped US$0.23 per barrel to US$54.72 last week from the previous week, while positive market factors, including OPEC fulfilling its pledge to cut output, were offset by negative factors, such as a continued rise in the number of active oil rigs in the US and a large increase in US commercial crude inventories.

By taking into account a depreciation of NT$0.104 in the New Taiwan dollar against the US dollar during the week, CPC said it would keep domestic fuel prices unchanged this week from last week based on its weighted pricing mechanism.

CPC’s wholesale price of 92-octane unleaded gasoline is to stay at NT$24.9 per liter, the price of 95-octane unleaded gasoline is unchanged at NT$26.4 per liter, the price of 98-octane unleaded is to stay at NT$28.4 per liter and premium diesel is to remain at NT$22.6 per liter.

CPC’s announcement came one day after Formosa Petrochemical Corp (台塑石化) said it would not raise prices this week.

Fuel prices at Formosa Petrochemical stations will remain at NT$24.8 per liter for 92-octane unleaded, NT$26.3 per liter for 95-octane unleaded, NT$28.6 per liter for 98-octane unleaded, and NT$22.3 per liter for super diesel, Formosa said.

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