Taipei--State-owned oil refiner CPC Corp. Taiwan announced on Sunday that it will leave gasoline and diesel prices unchanged because changes in crude oil prices over the past week have been insufficient to warrant an adjustment.
As a result, fuel prices at CPC gas stations will remain NT$20.9 per liter for super diesel, NT$23.4 per liter for 92 octane unleaded, NT$24.9 per liter for 95 octane unleaded and NT$26.9 per liter for 98 octane unleaded this week, the company said.
The company adjusts its fuel prices once a week based on a calculation mechanism that takes into account changes in a weighted oil price formula comprising 70 percent Dubai crude, 30 percent Brent and the value of the Taiwan dollar against the U.S. dollar.
CPC has calculated the average price of crude oil at US$48.86 per barrel this week, down from NT$49.06 per barrel a week earlier. The Taiwan dollar depreciated by NT$0.107 against the greenback at NT$30.221, according to its website.
CPC said international crude oil prices fell more times than they rose over the past few days, impacted by an increase in Libya's outputs to over 800,000 barrels per day.
Source: Focus Taiwan News Channel