China Trade Information

CPC Corp, a Taiwan-owned refinery, announced Tuesday it will raise prices of gasoline, diesel and gas as of Jul. 3 due to rising prices of crude oil, according to sources.

Price of unleaded gasoline and diesel will be raised by NT$1.5 per liter and NT$1.6 per liter respectively, while fuel oil will go up to NT$1,205 per kiloliter.

Meanwhile, price of liquefied petroleum gas for household use will rise NT$1.0 per liter, gas for industrial use will be raised by NT$1.11 per liter and LPG for vehicles will be up by NT$1.2 per liter while there will be no change in natural gas.

This is the second price hike affected by Taiwan’s largest producer of refined petroleum products this year. Its latest adjustment was in June this year, after Taiwan government removed the freeze on fuel prices.

Taiwan government sets prices of petroleum products with Dubai and Brent prices as benchmarks.

Average price of crude oil rose 8.3% to US$128.43 per barrel in June, against US$118.62 per barrel in May.

Tags: crude-oil, Fuel, Gas, gasoline, Petroleum

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