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 for this week, after keeping fuel prices unchanged for two weeks during the Lunar New Year holiday.
CPC said that it would increase gasoline prices by NT$0.5 per liter to NT$25.5, NT$27.0 and NT$29.0 for 92, 95 and 98-octane unleaded gasoline respectively.
The price for premium diesel would increase NT$0.5 per liter to NT$22.8, it added.
Formosa Petrochemical would also increase prices for 92, 95 and 98-octane unleaded gasoline by NT$0.5 per liter to NT$25.5, NT$27.1 and NT$29.0 respectively, while the price for premium diesel would increase by NT$0.5 per liter to NT$22.6, it said.
The new prices take effect today.
Global crude oil prices rose last week, as the oil production in Texas was interrupted due to an unprecedented cold snap, CPC said in a statement.
Sentiment in the oil market was also affected by news that Houthi militants in Yemen attacked an airport in Saudi Arabia, it said.
Based on CPC’s floating oil price formula, the cost of crude oil last week increased 2.94 percent from a week earlier, it said.
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