Firms increase prices of diesel, gasoline by NT$0.5 per liter
The China Post news staffTAIPEI, Taiwan -- CPC Corp., the state-owned oil refiner, announced yesterday that it will increase its gasoline and diesel prices by NT$0.5.
December 30, 2013, 12:01 am TWN
Formosa Petrochemical, the nation's privately owned oil refiner, also made the same announcement.
After the adjustment, CPC Corp. will be selling its 92-grade unleaded gasoline for NT$34.3 per liter, 95-grade unleaded gasoline for NT$35.8 per liter, 98-grade unleaded gasoline for NT$37.8 per liter and super diesel for NT$33.2 per liter.
Due to an escalation of the civil war in South Sudan, the African nation's oil fields and refineries have been shut down, and experts believe that this will have an effect on the supply of crude oil, CPC Corp. said, adding that an economic recovery-driven increase of demand in the U.S. has led international oil prices to increase.
The oil refiner added that this week's 70-percent Dubai and 30-percent Brent crude index averaged at US$109.96 per barrel, a US$2.01 increase compared to last week's US$107.95, and that the New Taiwan dollar has depreciated against the U.S. dollar.