Gasoline and diesel prices to surge in fourth straight week
CNATAIPEI--Gasoline and diesel prices will increase NT$0.3 and NT$0.2 per liter, respectively, on Monday in the fourth consecutive weekly price increase since the end of January, the state-run oil company CPC Corp. Taiwan announced Sunday.
February 18, 2013, 12:09 am TWN
This adjustment was a result of increasing international crude oil prices due to a significant decrease in petroleum reserves and optimistic employment data in the United States, according to the domestic oil refiners.
This will bring the price of 92-octane unleaded gasoline to NT$34.9 per liter, 95-octane unleaded gasoline to NT$36.4, 98-octane unleaded to NT$38.4, and diesel to NT$33.8, the refiners announced.
The benchmark that CPC uses — an average of 70 percent of the Dubai and 30 percent of the Brent crude indices — stood at US$114.78 per barrel in the period ending Friday, an increase of US$1.34 from the previous week.
Despite the increases, the company said domestic fuel prices continue to be one of the lowest among neighboring countries.
In view of the high gasoline prices, the company urged the public to make use of its self-service stations to save money.