Domestic fuel prices may go up slightly next week

Taiwan News
Date: 2016-06-03
By: Central News Agency

Taipei, June 3 (CNA) Domestic gasoline and diesel prices may rise slightly or remain unchanged next week as international crude oil prices have bounced back from a drop earlier in the week, market sources said Friday.

Based on the crude oil price fluctuations, state-owned CPC Corp. Taiwan’s may retain its gasoline and diesel prices or raise them by NT$0.1 (US$0.003) per liter next week, the sources said.

CPC did not touch its gasoline prices this week, but cut diesel prices by NT$0.1 per liter.

The state-run company calculates its weekly fuel prices based on a weighted oil price formula that comprises 70 percent Dubai crude and 30 percent Brent crude.

The weekly floating price formula showed that oil prices averaged US$46.61 per barrel as of June 2, up from US$46.46 the previous week, according to CPC’s website.     [FULL  STORY]

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