CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday announced that gasoline and diesel prices would rise by NT$0.2 and NT$0.4 per liter respectively starting today, citing Middle East tensions and winter storms in the eastern US.
The prices would be NT$27.4, NT$28.9 and NT$30.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively at CPC and Formosa stations, the companies said in separate statements.
Premium diesel would be NT$27 per liter at CPC stations and NT$26.8 per liter at Formosa pumps, they said.
Separately, CPC on Saturday said it would raise the price of natural gas by 3 percent on average this month in the wake of a hike in international liquefied natural gas (LNG) prices.
The latest price adjustments would see households’ natural gas expenses rise by NT$5 to NT$7 a month, but the price would remain below CPC’s costs, the company said.
CPC said the latest natural gas price hike only partly reflects more expensive imports, as the company follows a government mandate to maintain consumer prices at a stable level by absorbing part of the increased costs.
International LNG prices have been rising sharply due to robust global demand caused by freezing temperatures in Europe, the US and northeast Asia, it said.
Europe’s natural gas inventories are relatively low, and as European and Asian countries scramble to rebuild their surplus, LNG prices rise, CPC said.
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