By: Liao Yu-yang and Emerson Lim
Taipei, May 5 (CNA) In order to recoup some of the losses incurred over the past few
weeks, state-run oil refiner CPC Corp., Taiwan will raise gasoline prices this week for the eighth week in a row, for an accumulated increase of NT$2.30 per liter over the same period.
Effective midnight Sunday, the price of CPC gasoline products will increase by NT$0.20 per liter, while diesel will fall by NT$0.50 per liter, the company announced.
With the adjustments, retail prices at CPC gas stations will be NT$28.80 (US$0.92) per liter for 92 octane unleaded, NT$30.30 per liter for 95 octane unleaded, NT$32.30 per liter for 98 octane unleaded, and NT$26.80 per liter for super diesel.
International markets have seen price movements in the wake of U.S. efforts to step up its embargo against Iranian crude exports, and Washington’s call on the Organization of the Petroleum Exporting Countries (OPEC) to increase production, resulting in a drop in international prices, the CPC explained. [FULL STORY]