Local refiners raise fuel prices as US inventories swell

Taipei Times
Date: Jul 31, 2017
By: Staff writer

State-owned refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it is raising its domestic gasoline and diesel prices by NT$0.2 per liter today.

The average cost of its crude oil rose to US$48.85 per barrel this week from NT$47.89 a week earlier, reflecting concerns about a steady increase in US crude oil inventories and lower investment by the largest US independent refiners this year, which might prompt other shale oil producers to follow suit, CPC said.

Formosa Petrochemical Corp (台塑石化) announced similar price increases on Saturday.    [FULL  STORY]

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