CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that its gasoline and diesel prices would remain unchanged from last week, a move echoed by the privately run Formosa Petrochemical Corp (台塑石化).
The firms last week raised gasoline prices by NT$0.1 per liter, while lowering diesel prices by NT$0.1 per liter.
Prices at CPC stations would remain at 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 remain at NT$25.3 per liter, CPC said in a statement.
International oil prices rose slightly last week after OPEC and its allies achieved better than expected production last month amid news that the US intends to cancel travel restrictions in November, indicating that consumer spending is expected to recover, CPC said.
While its gasoline and diesel prices could have increased by NT$0.6 and NT$1.5 per liter respectively this week based on its floating oil price formula, CPC said that it would absorb the cost increase to comply with government policy.
Formosa said that it was leaving the prices of its 92, 95 and 98-octane unleaded gasoline unchanged at NT$28.2, NT$29.6 and NT$31.7 per liter for this week respectively, while the price of premium diesel would remain at NT$25.1 per liter.
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