In separate statements, CPC and Formosa said that they would increase gasoline and diesel prices by NT$0.1 per liter, effective today, following price increases of NT$0.3 per liter for gasoline and NT$0.4 per liter for diesel last week. Based on state-run CPC’s floating oil price formula, prices last week increased by US$0.8 per barrel to US$67.53, the company’s Web site showed. Normally, the price of gasoline would have risen by NT$0.2 per liter, CPC said. However, to adhere to the government’s policy of keeping fuel prices the lowest among Asian nations, CPC absorbed 50 percent of the increase, the company said. Prices at privately owned Formosa’s pumps are to rise to NT$27.7, NT$29.1 and NT$31.2 per liter for 92, 95 and 98-octane unleaded respectively, while premium diesel is to rise to NT$25.5 per liter.
