The nation’s two oil refiners yesterday said they would raise gasoline and diesel prices by NT$0.10 per liter this week, effective today, to reflect rising global crude oil prices.
State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) said in a statement that its average crude oil costs rose US$0.27 per barrel to US$106.92 last week from the previous week after China’s latest economic data showed its factory activity improved this month and on the continuation of tensions between Russia and Ukraine.
The company’s weighted oil price formula — 70 percent Dubai crude and 30 percent Brent crude — showed prices rose 0.42 percent in the week, CPC said.
Global oil prices also rose last week after the latest purchasing managers data in Europe showed that manufacturing expanded, Formosa Petrochemical Corp (台塑石化) said in a separate statement.
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