Mon, Jul 02, 2018 - Page 16 News List

Refiners announce fuel price hike of NT$0.4 per liter

By Chen Cheng-hui  /  Staff reporter

State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would increase its gasoline and diesel prices by NT$0.4 per liter, from today.

The weekly price adjustment came as global crude oil prices rose last week, following reports that the weekly US crude inventories decreased by a higher-than-expected 9.891 million barrels from the previous week.

The price hikes also reflected market sentiment regarding the US pressing allies to end Iran oil imports by a November deadline, CPC said in a statement.

Privately run Formosa Petrochemical Corp (台塑石化) yesterday matched CPC’s prices with increases of NT$0.4 per liter for gasoline and diesel products, following a price cut of NT$0.2 per liter for both the previous week.

CPC also said it would raise this month’s prices of liquefied petroleum gas (LPG) products to reflect rising energy costs, while keeping liquefied natural gas prices unchanged.

Effective today, the company raised its price for household LPG by NT$0.3 per kilogram and NT$0.1 per liter for LPG used in cars, CPC said in a separate statement.

Following the price adjustment, the price of a 20kg household gas cylinder is expected to increase by NT$6.

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