By Chen Cheng-hui / Staff reporterState-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it would raise gasoline prices by NT$0.3 per liter and diesel prices by NT$0.4 per liter from today to reflect higher international crude oil prices. Based on the company’s floating oil price formula, prices last week increased by US$1.90 per barrel to US$66.73, CPC’s Web site said. CPC attributed the increase to positive sentiment in the crude oil market, buoyed by a preliminary trade deal reached between the US and China, as well as an unexpected decline in US commercial crude inventories. Privately owned Formosa Petrochemical Corp (台塑石化) announced similar price increases for this week, also effective today. Prices at Formosa’s fuel stations are to rise to NT$27.6, NT$29.0 and NT$31.1 per liter for 92, 95 and 98-octane unleaded respectively, while premium diesel is to rise to NT$25.4 per liter.

Source: Taipei Times December 22, 2019 15:56 UTC