State refiner raises gasoline, diesel prices

It is customary that the refiner, CPC Corp., freezes price hikes during the Lunar New Year holidays to save people money. Yet this year is different, as the government announced before the New Year's that it would keep the floating price mechanism in place during the holidays.

With the price adjustment, CPC this week will sell 92-, 95- and 98-grade gasoline at NT$34.6, NT$36.1 and NT$38.1 a liter, respectively, and super diesel at NT$33.6 a liter.

According to CPC, international oil prices rose last week on Iran's refusal to hold nuclear-related talks with the United States and on positive economic figures reported by the U.S.

The benchmark that CPC uses, an average between oil traded on Dubai and Brent indices, rose to US$113.44 per barrel, up NT$2.08 from the US$111.36 a week earlier. The New Taiwan dollar, meanwhile, weakened NT$0.045 against the greenback last week. The figures translate into a price increase of 1.62 percent, or NT$0.4 and NT$0.5 a liter for local gasoline and diesel, respectively.

The refiner reminded patrons that there are 112 CPC stations island-wide providing self-service pumps, through which consumers can save NT$0.8 a liter. The public is encouraged to use those pumps, CPC said.

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