Gasoline and diesel prices are to increase by NT$0.1 per liter this week on the back of rising global crude oil prices, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
Global crude oil prices moved higher last week, as the northern hemisphere is entering the peak winter season for heating oil and US commercial crude oil inventories had declined for six consecutive weeks, the companies said in separate statements.
Front-month US West Texas Intermediate crude oil futures climbed 4.76 percent last week to settle at US$73.96 a barrel, while Brent increased 3.69 percent to US$76.51, Dow Jones Newswires reported on Saturday.
Effective today, gasoline prices at CPC and Formosa stations are to increase to NT$28.7, NT$30.2 and NT$32.2 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
The price of premium diesel is to be NT$27.4 per liter at CPC stations and NT$27.2 at Formosa pumps, they said.
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