Gasoline prices are to remain unchanged this week after they rose NT$0.2 per liter last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
Diesel prices are to increase NT$0.1 per liter this week, following a NT$0.7 per liter increase last week, the two companies said in separate statements.
Effective today, gasoline prices at CPC and Formosa stations are to remain at NT$29.8, NT$31.3 and NT$33.3 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
Premium diesel is to cost NT$29 per liter at CPC stations and NT$28.8 at Formosa pumps.
The price adjustments came as international crude oil prices rose last week as demand for winter heating fuel increases in Europe and the US expands sanctions on Iranian oil, the companies said.
Rising tensions in the Middle East, with the Gaza ceasefire at risk of collapse, and negotiations between the US and Russia to end the war in Ukraine also weighed on oil market sentiment, they added.
Front-month Brent crude oil futures rose 0.11 percent last year to US$74.74 a barrel on the London Intercontinental Exchange, while US West Texas Intermediate fell 0.37 percent to US$70.74 per barrel on the New York Mercantile Exchange.
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