Fuel prices to stay flat for second week in a rowBy Chen Cheng-hui / Staff reporterCPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday said they would continue to keep gasoline and diesel prices unchanged this week for a second consecutive week. This is despite a seventh weekly rise in global crude oil prices amid tensions in Ukraine and a tight supply in the US. Global crude oil prices continued to climb last week on a combination of factors that included a cold snap in Texas and rising concerns about the state’s shale oil production. The refiner said its crude oil costs last week rose 2.1 percent, following an increase of 1.23 percent the previous week, based on its floating oil price formula. To comply with government policy, CPC said that it would not raise fuel prices so that consumer costs would remain stable through the Lunar New Year holiday.

Source: Taipei Times February 07, 2022 02:25 UTC