COST OF LIVING/CPC gasoline, diesel prices to remain unchanged next week

Taipei, Dec. 29 (CNA) State-run oil refiner CPC Corp., Taiwan will maintain its gasoline and diesel prices unchanged for next week, despite an increase in global oil prices last week, the company said Sunday.

The reference prices at CPC gas stations around the nation in the coming week will remain at NT$27.3 per liter for super diesel, NT$28.6 per liter for 92 octane unleaded, NT$30.1 per liter for 95 unleaded and NT$32.1 per liter for 98 unleaded.

CPC Corp. said that based on its floating oil price formula, the cost of crude oil rose 0.4 percent last week from a week earlier, impacted by the continued decline in U.S. commercial crude oil inventories and geopolitical turmoil in the Middle East.

Based on calculations using a weighted oil price formula composed of 70 percent Dubai crude and 30 percent Brent crude (7D3B), the CPC said, gasoline and diesel prices should have increased by NT$1.3 per liter each.

However, CPC said it would absorb the increase to comply with a government policy of keeping domestic fuel prices lower than in major neighboring markets.

The CPC said it has absorbed more than NT$24.64 billion in the first 11 months this year.