Fuel prices remain stable despite rising oil prices
By Chen Cheng-hui / Journalist
CPC Corp, Taiwan (CPC,) said yesterday that its gasoline and diesel prices would remain unchanged from last week, a move echoed by privately-held Formosa Petrochemical Corp (台塑 石化).
Last week, companies increased gasoline prices by NT $ 0.1 per liter, while lowering diesel prices by NT $ 0.1 per liter.
Prices at CPC stations would remain respectively at NT $ 28.2, NT $ 29.7 and NT $ 31.7 per liter for unleaded gasoline at 92, 95 and 98 octanes respectively, while the price of super diesel would remain at NT $ 25.3 per liter, CPC said in a statement.
International oil prices edged up last week after OPEC and its allies hit better-than-expected production last month as the United States intended to lift travel restrictions in November, indicating that consumer spending is expected to pick up, CPC said.
While its gasoline and diesel prices could have increased NT $ 0.6 and NT $ 1.5 per liter respectively this week based on its floating oil price formula, CPC said it would absorb increasing costs to comply with government policy.
Formosa said it was leaving the prices of its 92, 95 and 98 octane unleaded gasoline unchanged at NT $ 28.2, NT $ 29.6 and NT $ 31.7 per liter respectively for this week, while the premium diesel price would remain at NT $ 25.1 per liter.
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