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Fuel prices to rise on crude oil rebound

Fuel prices to rise on crude oil rebound

Taipei, Sept. 6 (CNA) Domestic gasoline and diesel retail prices will rise by NT$1 (US$0.03) and NT$1.2 per liter, respectively, at midnight, the biggest rise in nearly seven months, the state-owned CPC Corp., Taiwan (??) said Sunday. After the planned adjustment, the new prices will be NT$21.3 per liter for super diesel, NT$23.4 per liter for 92 octane unleaded gasoline, NT$24.9 per liter for 95 octane unleaded and NT$26.9 per liter for 98 octane unleaded, the company announced. It noted that the adjustment came after a recent technical rebound in international crude oil prices. The CPC adjusts domestic fuel prices every week based upon weekly changes on a weighted crude oil price index consisting of 70 percent Dubai crude and 30 percent Brent crude. Following the hike announcement, privately run Formosa Petrochemical Corp. (????) also announced that it will raise its gasoline and diesel prices by the same level at 1 a.m. Monday. Formosa Petrochemical's new prices will be NT$23.3 per liter for 92 octane unleaded, NT$24.8 per liter for 95 octane unleaded, NT$27.1 per liter for 98 octane unleaded and NT$21 for super diesel. (By Evelyn Kao)


Updated : 2021-09-26 11:09 GMT+08:00