Gasoline and diesel prices are to remain unchanged this week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday, despite a spike in global oil prices last week.
CPC said that based on its floating oil price formula, the cost of crude oil rose 1.26 percent last week from a week earlier, after Saudi Arabia announced that it would raise prices of crude oil sold to Asia next month and as Israel prepared for an attack by Iran, which occurred on Saturday night.
However, CPC said it would absorb part of the increase to comply with a government policy of keeping domestic fuel prices lower than in major neighboring markets.
Gasoline prices at CPC and Formosa stations are to stay at NT$29.6, NT$31.1 and NT$33.1 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
The price of premium diesel is to remain at NT$27.1 per liter at CPC stations and NT$26.9 at Formosa pumps, they added.
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