Gasoline and diesel prices are to rise by NT$0.6 and NT$0.1 per liter respectively this week, after a surprise oil production cut of more than 1 million barrels a day by OPEC+ boosted global crude oil prices last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday.
Oil prices also rose after Saudi Arabia announced price hikes for its crude shipments to Asia for three consecutive months and the US reported a continued increase in commercial crude oil inventories, the companies said.
Effective today, gasoline prices at CPC and Formosa stations are to increase to NT$29.5, NT$31.0 and NT$33.0 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
The price of premium diesel is to rise to NT$27.8 per liter at CPC stations and to NT$27.6 at Formosa pumps, they said.
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