By Chen Cheng-hui /
Staff reporter
Prices of gasoline and diesel products at domestic fuel stations are this week to rise NT$0.2 and NT$0.3 per liter respectively, after international crude oil prices increased last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
International crude oil prices last week snapped a two-week losing streak as the geopolitical situation between Russia and Ukraine turned increasingly tense, CPC said in a statement.
News that some oil production facilities in Alberta, Canada, were shut down due to wildfires and that US-Iran nuclear talks made no progress also helped push oil prices to a significant weekly gain, Formosa said in a separate statement.
Front-month Brent crude oil futures — the international oil benchmark — last week rose 5.88 percent to settle at US$66.47 per barrel on the Intercontinental Exchange, while West Texas Intermediate crude oil futures — the US oil gauge — gained 6.23 percent to US$64.58 per barrel on the New York Mercantile Exchange.
Effective today, gasoline prices at CPC and Formosa stations are to increase to NT$26.6, NT$28.1 and NT$30.1 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$25.1 per liter at CPC stations and NT$24.9 at Formosa pumps, the companies said.