Domestic gasoline and diesel prices are to remain unchanged for a second straight week this week after the global oil market became stuck in range-bound trading last week, CPC Corp, Taiwan (CPC, 台灣中油) said yesterday.
Gasoline prices at CPC stations would remain unchanged at NT$22.5, NT$24 and NT$26 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would stay at NT$19.8 per liter, the state-run refiner said in a statement.
The cost of crude oil last week increased 0.9 percent from a week earlier based on CPC’s floating oil price formula, as Hurricane Laura affected production at US Gulf Coast refineries, it said.
However, to comply with a government policy of keeping domestic fuel prices the lowest in Asia, CPC said that it would absorb the cost increase and leave fuel prices unchanged.
Formosa Petrochemical Corp (台塑石化) also said that it would leave its prices for 92, 95 and 98-octane unleaded gasoline unchanged at NT$22.5, NT$23.9 and NT$26 per liter respectively this week, while the price of premium diesel would remain at NT$19.6 per liter.
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