CPC & Formosa Petrochem keep fuel prices unchanged
The China Post news staffTAIPEI, Taiwan -- Taiwan's two major refiners have kept gasoline and diesel prices unchanged, as oil traded internationally fell marginally.
January 14, 2013, 12:01 am TWN
With prices unchanged, CPC Corp. this week will continue to sell 92-, 95- and 98-grade gasoline at NT$33.5, NT$35 and NT$37 a liter, respectively, and super diesel at NT$32.3 a liter.
Formosa Petrochemical, CPC's main competitor, will meanwhile offer its 92-, 95- and 98-grade products at NT$33.4, NT$35 and NT$37.2, respectively, and diesel at NT$32.3. According to CPC, international oil prices were mixed last week, due to a variety of factors including dwindling demands from Europe, economic stimulation measures announced by Japan, and reduced supplies in Saudi Arabia.
The benchmark that CPC uses, an average between oil traded on Dubai and Brent indices, fell to US$109.02 per barrel, down only six U.S. cents from the US$109.08 a week earlier.
The New Taiwan dollar, meanwhile, rose NT$0.004 last week against the greenback. The figures translate into a price decline of 0.05 percent, prompting local refiners to keep gasoline and diesel prices unchanged.
CPC stressed that oil prices go up and down. It noted that Taiwan fuel prices are lower compared to neighboring countries and regions and urged drivers to save on gas and conserve energy.
The company also reminded that there are 112 CPC stations island-wide providing self-service pumps, through which consumers can save NT$0.8 a liter.