By: Chiu Po-sheng and Frances Huang
Taipei, Feb. 7 (CNA) CPC Corp., Taiwan (中油), the state-owned oil supplier, announced Sunday that it will raise domestic gasoline and diesel prices for next week in reflection of a rebound staged by international crude oil prices.
Starting from Monday, the price tags carried by CPC’s gasoline and diesel will be raised by NT$0.6 (US$0.02) per liter after a decision by the company to hike its fuel prices by NT$1 per liter for this week. It is the second consecutive week for the state-run company to adjust fuel prices higher.
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. [FULL STORY]