CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday announced that they would raise gasoline prices by NT$0.2 per liter, but lower diesel prices by NT$0.1 per liter, effective today.
Both firms last week raised gasoline prices by NT$0.4 per liter and diesel prices by NT$0.1 per liter.
After this week’s adjustment, gasoline prices at CPC stations would be NT$28.2, NT$29.7 and NT$31.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would fall to NT$25.5 per liter, the company said.
Prices at Formosa’s stations would climb to NT$28.2, NT$29.6 and NT$31.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would drop to NT$25.3 per liter.
CPC said in a statement that based on its floating oil price formula, the cost of crude oil last week increased 1.49 percent from a week earlier.
State-run CPC said that Hurricane Ida affected oil producers in the Gulf of Mexico last week, with the production losses leading to crude oil price increases.
Formosa said in a separate statement that the oil market was supported by US commercial crude inventories falling for the fourth consecutive week last week.
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