Gasoline and diesel prices are to increase by NT$0.4 per liter today after global crude oil prices rose last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday.
Crude oil prices last week increased as an explosion at an offshore oil platform in the Gulf of Mexico affected output by about 700,000 barrels, while Saudi Arabia and Russia have decided to cut oil production next month, CPC said.
Other factors, such as a slower-than-expected increase in the US consumer price index last month, a decline in the US dollar index, which tracks the greenback against six other currencies, and a jump in China’s crude oil imports last month also boosted oil prices last week, Formosa said in a separate statement.
Based on CPC’s floating oil price formula, the cost of crude oil last week increased 3.84 percent from a week earlier, it said.
Gasoline prices at CPC and Formosa stations are today 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$27.7 at CPC stations, and NT$27.5 at Formosa pumps, they said.
TRADE WAR: Tariffs should also apply to any goods that pass through the new Beijing-funded port in Chancay, Peru, an adviser to US president-elect Donald Trump said A veteran adviser to US president-elect Donald Trump is proposing that the 60 percent tariffs that Trump vowed to impose on Chinese goods also apply to goods from any country that pass through a new port that Beijing has built in Peru. The duties should apply to goods from China or countries in South America that pass through the new deep-water port Chancay, a town 60km north of Lima, said Mauricio Claver-Carone, an adviser to the Trump transition team who served as senior director for the western hemisphere on the White House National Security Council in his first administration. “Any product going
High above the sparkling surface of the Athens coastline, the cranes for building the 50-floor luxury tower centerpiece of Greece’s future “smart city” look out over the Saronic Gulf. At their feet, construction machinery stirs up dust. Its backers say the 8 billion euro (US$8.43 billion) project financed by private funds is a symbol of Greece’s renaissance after the years of financial stagnation that saw investors flee the country. However, critics see it more as a future “ghetto for the rich.” It is hard to imagine that 10km from the Acropolis, a new city “three times the size of Monaco”
STRUGGLING BUSINESS: South Korea’s biggest company and semiconductor manufacturer’s buyback fuels concerns that it could be missing out on the AI boom Samsung Electronics Co plans to buy back about 10 trillion won (US$7.2 billion) of its own stock over the next year, putting in motion one of the larger shareholder return programs in its history. South Korea’s biggest company would repurchase the stock in stages over the coming 12 months, it said in a regulatory filing on Friday. As a first step, it would buy back about 3 trillion won of paper starting today up until February next year, all of which it would cancel. The board would deliberate on how best to effect the remaining 7 trillion won of buybacks. The move
In a red box factory that stands out among the drab hills of the West Bank, Chat Cola’s employees race to quench Palestinians’ thirst for local products since the Gaza war erupted last year. With packaging reminiscent of Coca-Cola’s iconic red and white aluminum cans, Chat Cola has tapped into Palestinians’ desire to shun brands perceived as too supportive of Israel. “The demand for [Chat Cola] increased since the war began because of the boycott,” owner Fahed Arar said at the factory in the occupied West Bank town of Salfit. Julien, a restaurateur in the city of Ramallah further south,
RSS