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Gasoline prices to rise this week

Gasoline prices to rise this week

Taipei, Oct. 11 (CNA) Beginning at midnight Sunday, gasoline and diesel prices will rise by NT$0.8 and NT$0.9 per liter, respectively, at state-run oil company CPC Corp.'s gas stations, because of increases in global crude oil prices this past week. CPC Corp. said Sunday that after the adjustment, its 92, 95 and 98 octane unleaded gasoline will sell for NT$23.6 (US$0.73), NT$25.1 and NT$27.1 per liter, respectively. Diesel fuel will be NT$21.5 per liter. Privately run Formosa Petrochemical Corp. said that an hour later it would follow the CPC Corp. price increases, bringing its prices for 92, 95 and 98 octane unleaded gasoline to NT$23.5, NT$25 and NT$27.3 a liter respectively. Its diesel fuel will cost NT$21.2 per liter. Both companies said the upward adjustments were based on increases in international crude prices, which were driven higher by reports of Russia's intention to negotiate with major oil producing countries and the U.S. Energy Information Administration's forecast of increased demand in the coming year. (By Chen Cheng-wei, Wei Shu and S.C. Chang)


Updated : 2021-09-19 13:42 GMT+08:00