CPC, Formosa to raise fuel pricesMIDDLE EAST IMPACT: CPC would have absorbed an estimated NT$6.99 billion in fuel costs from Feb. 28 to yesterday under a government policy to stabilize pricesStaff writer, with CNAState-owned oil supplier CPC Corp, Taiwan (CPC, 台灣中油) on Saturday said it would raise gasoline and diesel prices by NT$1.7 and NT$1.5 per liter respectively this week, while Formosa Petrochemical Corp (台塑石化) yesterday announced similar increases. CPC and Formosa cited higher global energy prices amid Middle East tensions as the main reason for the price hikes. A person pumps fuel next to a CPC Corp, Taiwan tanker truck at a fuel station in New Taipei City’s Sinjhuang District yesterday. If the war continues until the end of June, with the Strait of Hormuz staying shut, oil prices could reach US$200 per barrel, Macquarie Group Ltd analysts said. CPC said that under its floating fuel price mechanism, gasoline and diesel prices should have risen by NT$10.9 and NT$13 per liter this week.

Source: Taipei Times March 29, 2026 17:16 UTC