State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said the price of its gasoline and diesel would increase by NT$0.4 per liter today.
CPC said that global crude oil prices have risen, mainly because OPEC and its non-member partners, known as OPEC+, are expected to expand output cuts in the first quarter of next year.
Based on CPC’s weighted oil price formula, the price of crude increased by US$2.11 to US$64.83 per barrel from a week earlier, it said.
After the adjustments, prices at CPC fuel stations are to climb to NT$27.3, NT$28.8 and NT$30.8 per liter for 92, 95 and 98-octane unleaded respectively, while premium diesel is to increase to NT$25.2 per liter, CPC said.
Privately owned Formosa Petrochemical Corp (台塑石化) yesterday announced similar price adjustments taking effect today.
Prices at its stations are to increase to NT$27.3, NT$28.7 and NT$30.8 per liter for 92, 95 and 98-octane unleaded respectively, while premium diesel is to rise to NT$25 per liter.
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