State-run oil refiner CPC Corp, Taiwan (CPC, 中油) yesterday said it will lift gasoline and diesel prices by NT$0.3 and NT$0.2 per liter respectively today as global crude oil prices rose last week.
It is the first time CPC has adjusted upward fuel prices in five weeks after the company cut prices on Sept. 2.
Global crude oil prices rose 1.43 percent, or US$1.52 per barrel, to US$107.81 per barrel last week from US$106.29 in the previous week, CPC said in a statement.
In accordance to CPC’s floating price mechanism, domestic gas prices are set to rise 0.99 percent from today after factoring in appreciation of local currency, CPC said.
Formosa Petrochemical Corp (台塑石化) yesterday said in a statement that it would also raise its gasoline and diesel prices by the same amount, starting from today.