《TAIPEI TIMES》 After dropping last week, gasoline prices set to rise
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 prices by NT$0.4 per liter this week after they cut prices by NT$0.3 per liter last week.
However, the companies said that they would keep diesel prices unchanged, following a NT$0.1 increase last week.
Effective today, gasoline prices at CPC stations are to increase to NT$26.9, NT$28.4 and NT$30.4 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel is to stay at NT$24.2 per liter, the state-run refiner said.
Formosa said that the prices of 92, 95 and 98-octane unleaded gasoline at its stations would increase to NT$26.9, NT$28.5 and NT$30.4 per liter respectively, while the price of premium diesel would remain at NT$24 per liter.
Formosa said that global crude oil prices rose last week, after OPEC and the International Energy Agency raised their forecasts for crude oil demand this year.
A greater-than-expected fall in US crude oil inventories also contributed to the rise in international oil prices last week, it said.
Meanwhile, reports that Yemen’s Iran-backed Houthi rebels attacked a Saudi Arabian oil facility lifted tensions in the oil-rich Middle East, while oil also gained support from progress in US efforts to vaccinate against COVID-19, CPC said.
CPC’s weighted oil price formula, composed of 70 percent Dubai crude and 30 percent Brent crude, showed that its average crude oil costs increased 2.44 percent last week from a week earlier.