Domestic gasoline prices are this week to increase by NT$0.1 per liter, rising for the 11th consecutive week as global crude oil prices continued to grow, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) announced separately yesterday.
However, premium diesel prices would remain unchanged at NT$19.6 per liter at CPC gas stations and NT$19.4 per liter at Formosa pumps, the companies said.
Effective today, gasoline prices at CPC gas stations are to increase to NT$22.3, NT$23.8 and NT$25.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while Formosa’s prices for 92, 95 and 98-octane unleaded are to rise to NT$22.3, NT$23.7 and NT$25.8 per liter, the companies said.
CPC said the price adjustments were because Saudi Arabia hiked official selling prices for its crude to Asia next month, as well as because it has taken the lead among the world’s major oil producers in cutting output, which lifted CPC’s average per-barrel cost to US$43.32, from US$42.24 a week earlier.
After factoring in the appreciation of the New Taiwan dollar, which last week was up NT$0.032 against the US dollar, fuel prices this week would rise by 1.96 percent, it said.
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