CPC Corp. has raised domestic gasoline and diesel prices, reflecting higher international crude costs through its weekly adjustment formula.
CPC Corp., Taiwan has raised retail gasoline and diesel prices, as higher international crude prices fed into its weekly price adjustment formula.
광고 문의 · 300×250Taiwan adjusts domestic fuel prices weekly against international benchmarks, calculated from a weighted average of Dubai and Brent crude prices with the exchange rate applied.
A smoothing mechanism caps the size of each adjustment. To prevent abrupt increases, the company absorbs the portion above a set ratio.
International crude has been swinging more widely of late with Middle East developments and inventory figures, with short-term prices moving sharply on each report concerning production facilities.
Fuel increases pass into general prices with a lag, through transport costs. Fresh food and parcel delivery charges, where logistics weigh heavily, tend to be affected earlier.
Taiwan's government has kept the question of fuel tax adjustment under review in light of the burden on prices. Rate changes are considered alongside fiscal conditions.
Domestic price adjustments are customarily announced on Sundays and applied from Monday. Consumers tend to bring refueling forward ahead of the announcement. (Source: Taiwanese press reports)
