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Firms raise gasoline, diesel prices by NT$0.2 per liter

TAIPEI, Taiwan -- CPC Corp. (中油), the state-owned oil refiner, announced that its gasoline and diesel prices will both be raised by NT$0.2 per liter, effective today until Dec. 29.

After the adjustment, the oil refiner will be selling its 92-grade unleaded gasoline for NT$33.8 per liter, 95-grade unleaded gasoline for NT$35.3, 98-grade unleaded gasoline for NT$37.3, and super diesel for NT$32.7 per liter.

Private oil refiner Formosa Petrochemical Corp. (台塑) yesterday also announced that it will be raising its gasoline and diesel prices by NT$0.2 per liter.

CPC Corp. said that various factors have caused international oil prices to rise, including the U.S. Federal Reserve's plan to gradually end its bond-buying program during 2014 and an increase in demand for fuel during winter.

The oil refiner pointed out this week's 70-percent Dubai and 30-percent Brent crude index averaged US$107.95 per barrel, representing a US$0.15 increase from last week's US$107.8.

CPC Corp. added that the New Taiwan dollar has also depreciated NT$0.167 against the U.S. dollar.

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