CPC and Formosa Maintain Domestic Fuel Prices
CPC Corp, Taiwan (CPC) has announced that it will maintain domestic retail gasoline and diesel prices at current levels this week. This decision comes as a result of CPC's floating pricing mechanism, which is based on a weighted average of 70% Dubai crude and 30% Brent crude.
The mechanism showed that the average international crude oil price fell to US$82.20 last week from US$83.99 per barrel the previous week after the US canceled plans to strike Iran.
Additionally, a stronger New Taiwan dollar, which averaged NT$32.350 against the US dollar last week, compared with NT$32.360 a week earlier, increased CPC's purchasing power.
Retail gasoline prices will remain at NT$30.5 (US$0.94), NT$32.0 and NT$34.0 per liter for 92, 95 and 98-octane unleaded gasoline respectively at CPC stations, while premium diesel prices will stay at NT$29.3 per liter at CPC pumps.