Taiwan’s two major fuel suppliers yesterday announced price increases of NT$0.5 per liter for gasoline and NT$0.9 per liter for diesel to take effect today.
State-run CPC Corp, Taiwan (CPC, 台灣中油) said the hike will result in prices at the pump of NT$27.3 per liter for 92-octane unleaded, NT$28.8 for 95-octane unleaded, NT$30.8 for 98-octane unleaded and NT$25.5 for super diesel.
The adjustments, which raise prices to a two-month high, came after a surge in global crude prices over the past week as oil and gas production fell in Saudi Arabia following drone attacks on two major oil facilities there, CPC said.
CPC adjusts its prices weekly based on a weighted oil price formula, which showed that the price of crude rose US$4.02 over the past week to US$64.75 per barrel.
Formosa Petrochemical Corp (台塑石化) announced identical adjustments to its fuel prices.
The privately run company said that prices at its gas stations would be NT$27.3 per liter for 92-octane unleaded, NT$28.7 for 95-octane unleaded, NT$30.8 for 98-octane unleaded and NT$25.3 for diesel.
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