Focus Taiwan
Date: 2017/12/31
By: Chu Tse-wei and William Yen

Taipei, Dec. 31 (CNA) State-owned oil refiner CPC Corp. Taiwan announced Sunday that it

will increase domestic gasoline and diesel prices this coming week to the highest level they have been since December 2014.

The company will increase gasoline prices by NT$0.3 (US$0.0101) per liter and diesel by NT$0.4 per liter, effective midnight Sunday.

After the adjustment, prices at CPC gas stations nationwide will be NT$24.6 per liter for super diesel, NT$26.7 per liter for 92 octane unleaded, NT$28.2 per liter for 95 unleaded and NT$30.2 per liter for 98 unleaded, the company said. A crack in the North Sea’s Forties Pipeline System (FPS) earlier in the month limiting the flow of oil from the area and a pipeline explosion in Libya on Tuesday led to rising international crude oil prices this past week.

CPC calculates its weekly fuel prices based on a weighted oil price formula made up of 70 percent Dubai crude and 30 percent Brent crude.    [FULL  STORY]