Mon, Oct 28, 2019 - Page 16 News List

Fuel prices rising today at CPC and Formosa stations

Staff writer, with CNA

CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday announced they were hiking fuel prices this week, citing an increase in international crude oil prices amid an easing of US-China trade tensions and a decrease in US crude inventories.

International oil prices have risen, in part due to the US and China being close to finalizing the first part of a trade deal, state-run oil refiner CPC said.

The price of its gasoline and diesel would increase by NT$0.1 per liter, beginning today, it said.

That means that retail prices at CPC gas stations are now NT$26.4 per liter for 92-octane unleaded, NT$27.9 for 95 unleaded, NT$29.9 for 98 unleaded and NT$24.2 for super diesel.

CPC adjusts its fuel prices weekly based on changes in crude oil prices calculated using a weighted oil price formula composed of 70 percent Dubai crude and 30 percent Brent crude.

Based on that formula, the price of crude rose US$0.84 over the past week to US$60.24 per barrel, the company said.

Privately owned Formosa announced identical fuel price hikes.

Prices at its stations are now NT$26.4 per liter for 92 unleaded, NT$27.8 for 95 unleaded, NT$29.9 for 98 unleaded and NT$24.0 for super diesel.

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