Domestic gasoline and diesel prices are to increase by NT$0.3 per liter this week 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.
That marks the fifth consecutive week of hikes. A week earlier, prices of gasoline and diesel increased NT$0.5 and NT$0.8 per liter respectively.
After the adjustments, prices at CPC gas stations are to rise to NT$19.9, NT$21.4 and NT$23.4 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to increase to NT$17.4 per liter, the state-run refiner said in a statement.
Global crude oil prices continued to increase last week due to the implementation of agreements to cut production by major oil-producing countries in the Middle East, while the COVID-19 outbreak has shown signs of easing, CPC said.
As a result, the average cost of its crude oil per barrel rose to US$34.07, from US$33.26 the previous week, CPC said.
After factoring in the depreciation of the New Taiwan dollar, which was down NT$0.064 against the US dollar last week, fuel prices would rise by 2.12 percent this week, it said.
Formosa’s prices for 92, 95 and 98-octane unleaded are to rise to NT$19.9, NT$21.3 and NT$23.4 per liter respectively, with premium diesel increasing to NT$17.2 per liter, the company said.
International oil prices also rose last week after several countries gradually lifted COVID-19 restrictions, despite uncertainties such as rising US-China tensions and Russia’s plan to ease production cuts this month, Formosa said.
The new prices are to take effect today, the companies said.
China has claimed a breakthrough in developing homegrown chipmaking equipment, an important step in overcoming US sanctions designed to thwart Beijing’s semiconductor goals. State-linked organizations are advised to use a new laser-based immersion lithography machine with a resolution of 65 nanometers or better, the Chinese Ministry of Industry and Information Technology (MIIT) said in an announcement this month. Although the note does not specify the supplier, the spec marks a significant step up from the previous most advanced indigenous equipment — developed by Shanghai Micro Electronics Equipment Group Co (SMEE, 上海微電子) — which stood at about 90 nanometers. MIIT’s claimed advances last
ISSUES: Gogoro has been struggling with ballooning losses and was recently embroiled in alleged subsidy fraud, using Chinese-made components instead of locally made parts Gogoro Inc (睿能創意), the nation’s biggest electric scooter maker, yesterday said that its chairman and CEO Horace Luke (陸學森) has resigned amid chronic losses and probes into the company’s alleged involvement in subsidy fraud. The board of directors nominated Reuntex Group (潤泰集團) general counsel Tamon Tseng (曾夢達) as the company’s new chairman, Gogoro said in a statement. Ruentex is Gogoro’s biggest stakeholder. Gogoro Taiwan general manager Henry Chiang (姜家煒) is to serve as acting CEO during the interim period, the statement said. Luke’s departure came as a bombshell yesterday. As a company founder, he has played a key role in pushing for the
EUROPE ON HOLD: Among a flurry of announcements, Intel said it would postpone new factories in Germany and Poland, but remains committed to its US expansion Intel Corp chief executive officer Pat Gelsinger has landed Amazon.com Inc’s Amazon Web Services (AWS) as a customer for the company’s manufacturing business, potentially bringing work to new plants under construction in the US and boosting his efforts to turn around the embattled chipmaker. Intel and AWS are to coinvest in a custom semiconductor for artificial intelligence computing — what is known as a fabric chip — in a “multiyear, multibillion-dollar framework,” Intel said in a statement on Monday. The work would rely on Intel’s 18A process, an advanced chipmaking technology. Intel shares rose more than 8 percent in late trading after the
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has appointed Rose Castanares, executive vice president of TSMC Arizona, as president of the subsidiary, which is responsible for carrying out massive investments by the Taiwanese tech giant in the US state, the company said in a statement yesterday. Castanares will succeed Brian Harrison as president of the Arizona subsidiary on Oct. 1 after the incumbent president steps down from the position with a transfer to the Arizona CEO office to serve as an advisor to TSMC Arizona’s chairman, the statement said. According to TSMC, Harrison is scheduled to retire on Dec. 31. Castanares joined TSMC in