Domestic fuel prices are to increase for a fourth consecutive week this week, with the retail price of 95-octane unleaded gasoline reaching the highest level in nine months.
Gasoline and diesel prices are to rise NT$0.3 per liter this week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday.
Effective today, gasoline prices at CPC and Formosa stations are to rise to NT$29.8, NT$31.3 and NT$33.3 per liter for 92, 95 and 98-octane unleaded gasoline respectively.
Based on CPC’s statistics, 95-octane unleaded accounts for more than 70 percent of its total sales, and its retail price of NT$31.3 per liter this week is the highest since late October last year.
Meanwhile, premium diesel is to cost NT$27.3 per liter at CPC stations and NT$27.1 at Formosa pumps, the companies said.
International oil prices fell earlier last week as investors expected geopolitical tensions to diminish in the Middle East, Formosa said.
However, oil prices rebounded later in the week as the US’ crude oil inventories dropped for a fourth straight week, while US economic data was better than expected, Formosa said.
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