State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it would raise gasoline and diesel prices by NT$0.2 and NT$0.1 per liter respectively from today to reflect an increase in import costs over the past week.
CPC’s floating oil price formula showed that oil prices last week increased by US$0.59 from US$56.26 per barrel to US$56.85, the refiner’s Web site showed.
After factoring in the New Taiwan dollar’s depreciation of NT$0.054 against the US dollar, CPC said its average oil import costs last week grew by 0.98 percent from the previous week.
International crude oil prices rose last week on market sentiment over a supply drop in Iraq and Saudi Arabia’s declared support for an extension of an output reduction agreement between major oil producers, the firm said, adding that a stronger-than-expected increase in US crude inventories last week capped the rise in crude prices.
Formosa Petrochemical Corp (台塑石化) on Saturday announced the same hikes, effective today.
Real estate agent and property developer JSL Construction & Development Co (愛山林) led the average compensation rankings among companies listed on the Taiwan Stock Exchange (TWSE) last year, while contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) finished 14th. JSL Construction paid its employees total average compensation of NT$4.78 million (US$159,701), down 13.5 percent from a year earlier, but still ahead of the most profitable listed tech giants, including TSMC, TWSE data showed. Last year, the average compensation (which includes salary, overtime, bonuses and allowances) paid by TSMC rose 21.6 percent to reach about NT$3.33 million, lifting its ranking by 10 notches
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