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Firms hike gasoline, diesel prices by NT$0.3, NT$0.4

TAIPEI, Taiwan -- CPC Corp., the state-owned oil refiner, yesterday announced that it will be increasing its gasoline and diesel prices by NT$0.3 and NT$0.4 respectively, effective today.

Private-owned Formosa Petrochemical also made the same announcement.

After the adjustment, CPC Corp. will be selling its 92-grade unleaded gasoline for NT$33.7 per liter, 95-grade unleaded gasoline for NT$35.2 per liter, 98-grade unleaded gasoline for NT$37.2 per liter and super diesel for NT$32.6 per liter.

The state-owned oil refiner said that according to the IMF's recently released World Economic Outlook, the global economy is expected to grow this year, and that in response to rumors surrounding the U.S.' Keystone Pipeline system, international oil prices have risen.

CPC Corp. said that this week's 70-percent Dubai crude and 30-percent Brent crude index averaged at US$105.64 per barrel, representing a US$1.12 increase from last week's US$104.52, while the New Taiwan dollar has depreciated NT$0.142 against the greenback.

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