《TAIPEI TIMES》 CPC and Formosa bump diesel prices by NT$0.1, leave gasoline unchanged
By Chen Cheng-hui / Staff reporter
Domestic diesel prices are this week to increase NT$0.1 per liter, but gasoline prices are to remain unchanged even though international crude oil prices increased last week, CPC Corp, Taiwan （CPC, 台灣中油） and Formosa Petrochemical Corp （台塑石化） announced separately yesterday.
Effective today, gasoline prices at CPC stations are to stay at NT$22.4, NT$23.9 and NT$25.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to increase to NT$19.8 per liter, the state-run refiner said in a statement.
Formosa said that its prices for 92, 95 and 98-octane unleaded gasoline would still be NT$22.4, NT$23.8 and NT$25.9 per liter respectively, while premium diesel would cost NT$19.6 per liter.
CPC said that based on its floating oil price formula, the cost of crude oil increased 1.35 percent last week from a week earlier, thanks to a recovery in US manufacturing and the continued decline in US commercial crude oil inventories.
That would have resulted in CPC hiking gasoline prices by NT$0.6 per liter and diesel prices by NT$0.8 per liter, but to comply with a government policy of keeping domestic fuel prices the lowest in Asia, CPC said that it had to absorb the cost increases in gasoline products and raise diesel prices by just NT$0.1 per liter.