CPC to hike gasoline prices by NT$0.7 per liter

Taiwan News
Date: 2016-05-22
By: George Liao, Taiwan News, Staff Writer

Taiwan’s state-run CPC Corporation announced on Sunday that it will hike its gasoline prices by NT$0.7 per liter and diesel prices by NT$0.8 per liter from midnight on Monday.

According to CPC’s calculation, the prices of 92 octane unleaded, 95 octane unleaded, 98 unleaded and super diesel will go up to NT$23.6, NT$25.1, NT$27.1 and NT$21.2 per liter, respectively after the price adjustment.

CPC analyzed that the turmoil in Nigeria, electricity shortages in Venezuela and other factors had continued to drive the international crude oil prices upward.

CPC said the actual prices would be posted at every CPC gas station.

CPC calculates its weekly fuel prices based on a weighted oil price formula that is comprised of 70 percent Dubai crude and 30 percent Brent crude (7D3B).     [FULL  STORY]