Mon, Nov 11, 2019 - Page 16 News List

CPC, Formosa prices to increase today

Staff writer, with CNA

Taiwan’s two major fuel suppliers yesterday announced price hikes for this week, citing an increase in international crude oil prices amid easing trade tensions between the US and China.

State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) said that the price of its gasoline and diesel would increase by NT$0.2 per liter, effective today.

After the increase, retail prices at CPC gas stations would be NT$26.6 per liter for 92-octane unleaded, NT$28.1 for 95-octane, NT$30.1 for 98-octane and NT$24.4 for super diesel.

Based on CPC’s weighted oil price formula, the price of crude rose US$1.02 over the past week to US$61.46 per barrel.

The company said international crude oil prices have risen, in part because the US-China trade frictions have been showing signs of easing.

The oil market was also boosted by the planned debut of Saudi Arabian Oil Co (Aramco), CPC said.

With the debut, Aramco would become the world’s largest listed company, it said.

Privately owned Formosa Petrochemical Corp (台塑石化) announced identical fuel price hikes, with its prices to increase to NT$26.6 per liter for 92-octane, NT$28 for 95-octane, NT$30.1 for 98-octane and NT$24.2 for super diesel.

This story has been viewed 1493 times.

Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.

TOP top