CPC keeps fuel prices unchanged for next week

Taipei-State-run oil refiner CPC Corp. Taiwan will maintain its gasoline and diesel prices unchanged for next week, ending six consecutive weeks of fuel price increases, the company said Sunday.

The reference prices at CPC gas stations around the nation in the coming week will remain at NT$25.1 per liter for super diesel, NT$27.2 per liter for 92 octane unleaded, NT$28.7 per liter for 95 unleaded and NT$30.7 per liter for 98 unleaded.

CPC said it kept prices unchanged because international crude oil prices rose only marginally higher in U.S. dollar terms this week, as the impact of oil inventories falling in the United States for a 10th straight week was largely offset by the reopening of the As-Sarah oil field in Libya.

That slight rise was further negated in Taiwan by the appreciation of the Taiwan dollar this past week, the company said.

CPC Corp. calculates its weekly fuel prices based on a weighted oil price formula made up of 70 percent Dubai crude and 30 percent Brent crude.

It calculated the average price of 7D3B crude oil at US$67.88 per barrel this week, up US$0.45 from US$67.43 per barrel a week ago, according to data on the CPC website.

Source: Focus Taiwan News Channel