Mon. May 29th, 2023

Gasoline and diesel prices are to rise NT$0.2 per liter this week following a decline of NT$0.1 per liter last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
Effective today, gasoline prices at CPC stations are to increase to NT$29.3, NT$30.8 and NT$32.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel is to rise to NT$27.1 per liter, the state-run refiner said in a statement.
Formosa said that its prices for 92, 95 and 98-octane unleaded gasoline would be NT$29.3, NT$30.8 and NT$32.8 per liter respectively, while premium diesel would cost NT$26.9 per liter.

Formosa said crude oil prices rose last week as several positive factors boosted market sentiment.
“As China is relaxing its COVID-19-related restrictions that would boost crude oil demand, while the US reported a sharp decrease in its crude oil inventories, international oil prices rose mildly last week,” Formosa said in the statement.
A decline in the US dollar against other major currencies also contributed to the trend, it said.
The US’ plan to lift oil sanctions on Venezuela also weighed on the market, CPC said.
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