CPC freezes fuel prices for CNY holidays

16 January, 2023

Courtesy of ICRT


CPC has left fuel prices at the pump unchanged for this week – after choosing to freeze prices for the upcoming week-long lunar (or Chinese) new year holidays.


The price freeze means 92-octane unleaded is likely to stand at NT$29.1 per litre, while premium diesel is expected to remain at NT$27.8 per litre until price adjustments are reinstated on 30 January.


However, CPC says it could still opt to lower prices from next week if global oil prices register a decline.

According to the state-refiner, international crude oil prices rose last week on the back of China re-opening its borders and strong jobs news from the US.


CPC adjusts its fuel prices weekly using a formula composed of 70% Dubai crude and 30% Brent crude. And based on that formula, the price of international crude oil rose by US$1.3 a barrel this past week.


Formosa Petrochemical has also frozen its fuel prices at the pump from today ahead of the upcoming lunar new year holiday, which begins on Friday.

Go Top