CPC compensation for substandard fuel could cost NT$2.7 billion

Taipei, CPC Corp., Taiwan will end up paying an estimated NT$2.6 billion and NT$2.7 billion (US$87 million) in compensation for selling substandard 95-octane unleaded gasoline earlier this month, company chairman Tai Chein (??) said Wednesday.

Motorists who bought the state-run fuel supplier's problematic fuel containing unstable fuel additives at its 159 gasoline stations from Oct. 1 to Oct. 21 will get a full refund and the same amount of fuel for free by showing proof of purchase, Tai said at a hearing of the Legislative Yuan's Economics Committee.

Also at the hearing, CPC Vice President Lee Shun-chin (???) said up to 41,000 kiloliters of the problematic gasoline worth NT$1.2 billion was sold during the period, mainly at stations in New Taipei, Taoyuan, Hsinchu City, and Hsinchu and Miaoli counties.

Under the compensation scheme, affected franchise gasoline stations and customers whose cars are certified by a third party commissioned by the CPC as having been damaged by using the problematic fuel are also eligible for reimbursements.

The compensation period will last from Nov. 1, 2018 to June 30, 2019, according to CPC, which brought the problematic fuel to light on Oct. 21.

Source: Focus Taiwan News Channel