CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday announced that they would increase gasoline and diesel prices, effective today, after the White House warned of an imminent Russian invasion of Ukraine and global crude oil prices reached a seven-year high on Friday.
CPC said it would raise gasoline prices by NT$1.2 per liter to NT$29.9, NT$31.4 and NT$33.4 for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would increase by NT$1.5 per liter to NT$27.5.
Based on its floating oil price formula, the cost of crude oil last week increased by 2.11 percent from a week earlier, the state-run refiner said, attributing the increase to persistent tension between Russia and Ukraine, as well as Saudi Arabia raising prices for shipments to Asia, Europe and the US next month.
Formosa said that oil prices fell to less than US$90 per barrel early last week, as the US and Iran resumed nuclear talks, easing market fears over its potential effect on crude oil supply.
An unexpected decrease in US commercial crude oil inventories last week and growing concerns over the Russia-Ukraine situation further prompted oil prices to rise, it added.
Formosa said it would increase its prices for 92, 95 and 98-octane unleaded gasoline by NT$1.2 per liter to NT$29.9, NT$31.3 and NT$33.4 respectively.
Premium diesel would increase by NT$1.5 to NT$27.3 per liter, it added.
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Intel Corp has named Tasha Chuang (莊蓓瑜) to lead Intel Taiwan in a bid to reinforce relations between the company and its Taiwanese partners. The appointment of Chuang as general manager for Intel Taiwan takes effect on Thursday, the firm said in a statement yesterday. Chuang is to lead her team in Taiwan to pursue product development and sales growth in an effort to reinforce the company’s ties with its partners and clients, Intel said. Chuang was previously in charge of managing Intel’s ties with leading Taiwanese PC brand Asustek Computer Inc (華碩), which included helping Asustek strengthen its global businesses, the company
Taiwanese suppliers to Taiwan Semiconductor Manufacturing Co. (TSMC, 台積電) are expected to follow the contract chipmaker’s step to invest in the US, but their relocation may be seven to eight years away, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. When asked by opposition Chinese Nationalist Party (KMT) Legislator Niu Hsu-ting (牛煦庭) in the legislature about growing concerns that TSMC’s huge investments in the US will prompt its suppliers to follow suit, Kuo said based on the chipmaker’s current limited production volume, it is unlikely to lead its supply chain to go there for now. “Unless TSMC completes its planned six
TikTok abounds with viral videos accusing prestigious brands of secretly manufacturing luxury goods in China so they can be sold at cut prices. However, while these “revelations” are spurious, behind them lurks a well-oiled machine for selling counterfeit goods that is making the most of the confusion surrounding trade tariffs. Chinese content creators who portray themselves as workers or subcontractors in the luxury goods business claim that Beijing has lifted confidentiality clauses on local subcontractors as a way to respond to the huge hike in customs duties imposed on China by US President Donald Trump. They say this Chinese decision, of which Agence
RSS