CPC, Formosa increase retail prices

Taiwan’s domestic gasoline and diesel prices increased by NT$0.3 (US$0.01) and NT$0.5 (US$0.02) per liter respectively on June 26, state-owned oil refiner CPC Corp. and privately owned Formosa Petrochemical Corp. announced. CPC sets prices by using energy information provider Platts’ reports on average petroleum prices in Dubai and for Brent crude, with a 70% and 30% allocation respectively. After the adjustment, CPC’s price for a liter of unleaded 98-octane gasoline would be NT$30.50 (US$0.93), while the price of 95-octane gasoline would be NT$29 (US$0.88), and 92-octane gasoline would be NT$28.30 (US$0.86) per liter. (June 26, 2009)