Taipei--State-owned oil refiner CPC Corp. Taiwan (??) said it will raise domestic gasoline and diesel prices by NT$0.5 (US$0.017) per liter this week, starting at midnight Sunday.
Following the increase, prices at CPC gas stations nationwide will be NT$21.5 per liter for super diesel, NT$23.9 per liter for 92 octane unleaded, NT$25.4 per liter for 95 unleaded and NT$27.4 per liter for 98 unleaded, the company said.
The prices will be the highest since May 22 and represent the third time the company has raised prices in as many weeks, attributing the hike to increases in international crude oil prices, which have been triggered mainly by a fall in United States inventories.
CPC calculates its weekly fuel prices based on a weighted oil price formula made up of 70 percent Dubai crude and 30 percent Brent crude.
After a recent rise in international crude oil prices due to higher demand and reduced supply, CPC's average price for crude oil was calculated at US$51.05 per barrel this week, up from US$48.85 per barrel last week, according to its website.
Source: Focus Taiwan News Channel