Gasoline and diesel prices are to rise NT$0.1 per liter this week after prices were left unchanged the previous week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) announced separately yesterday.
Effective today, gasoline prices at CPC and Formosa stations are to increase to NT$29.6, NT$31.1 and NT$33.1 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said. Premium diesel is to cost NT$27.1 per liter at CPC stations and NT$26.9 at Formosa pumps.
CPC said that based on its floating oil price formula, the cost of crude oil rose 4 percent last week from a week earlier, as international crude oil prices increased amid concerns over the intensifying conflict between Israel and Iran, as well as Russia’s pledge to fully cooperate with OPEC+ members’ output cut in the second quarter.
Formosa said it matched CPC’s price adjustments after factoring in the exchange rate for the New Taiwan dollar, domestic market competition and global market trends.
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