CPC Corp and Formosa to raise fuel prices for the eighth week in a row
By Chen Cheng-hui / Staff reporter
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 for an eighth consecutive week, effective today.
CPC said that it would raise gasoline prices by NT$0.3 per liter to NT$25, NT$26.5 and NT$28.5 for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel would increase by NT$0.1 per liter to NT$22.4.
Based on CPC’s floating oil price formula, the cost of crude oil last week increased 3.8 percent from a week earlier, after Saudi Arabia raised crude oil prices for Asian shipments next month and US commercial crude inventories dropped for a fifth consecutive week, the state-run refiner said in a statement.