《TAIPEI TIMES》 CPC, Formosa hike diesel, gasoline prices by NT$0.1
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 raise gasoline and diesel prices by NT$0.1 per liter, following a hike of NT$0.5 per liter last week.
Effective today, gasoline prices at CPC stations are to rise to NT$25.6, NT$27.1 and NT$29.1 for 92, 95 and 98-octane unleaded gasoline respectively, while the price for premium diesel is to increase to NT$22.9, the state-run refiner said.
Global crude oil prices rose last week, as oil facilities in Texas underwent maintenance after an unprecedented cold snap in the southern US, postponing the resumption of production, CPC said.
Sentiment in the oil market was also affected by news last week that the number of oil rigs in the US fell for the first time in three months, it said.
Based on CPC’s floating oil price formula, the cost of crude oil last week increased 1.56 percent from a week earlier, it said.
Formosa Petrochemical said that international oil prices continued to rise last week due to a slower-than-expected recovery of production capacity in Texas.
However, the rise in oil prices was capped by market expectations that OPEC+ would in April relax output restrictions, the company said.
Prices for 92, 95 and 98-octane unleaded gasoline at Formosa stations are to be NT$25.6, NT$27.2 and NT$29.1 respectively, while the price for premium diesel is to be NT$22.7, it said.
Separately, CPC yesterday said that there would be no price change for liquefied petroleum gas and liquefied natural gas this month.