Mon, Nov 25, 2019 - Page 16 News List

CPC and Formosa raise fuel prices by NT$0.1 this week

By Chen Cheng-hui  /  Staff reporter

Domestic gasoline and diesel prices are this week to increase by NT$0.1 per liter to reflect higher international crude oil prices, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) announced separately yesterday.

It is to be the third consecutive week that prices have been raised.

After adjustments, prices at CPC gas stations are to rise to NT$26.9, NT$28.4 and NT$30.4 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to increase to NT$24.7 per liter, the state-run refiner said in a statement.

Global crude oil prices moved higher last week after the Dow Jones Industrial Average hit 28,000 points, helping to improve sentiment, CPC said.

Last week, the average cost of its crude oil per barrel increased to US$62.53, from US$62.02 the previous week, the firm added.

Formosa’s prices for 92, 95 and 98-octane unleaded are to rise to NT$26.9, NT$28.3 and NT$30.4 per liter respectively, with premium diesel increasing to NT$24.5 per liter, it said.

The company matched CPC’s price adjustments after factoring in the exchange rate for the New Taiwan dollar and local market competition, Formosa said.

The new prices are to take effect today, the companies said.

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