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ASIAN MARITIME & PETROLEUM SERVICE TRADING CO.,LTD

21 Huynh Tinh Cua, Ward 8, District 3, HCM City.

Tel: 08 3820 5367 - 3820 5443

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Email: takeshi.dan@gmail.com

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Taiwan: Union Wants Revision to Pricing Index (04/03/2013)

The Taiwan Petrochemical Workers' Union (TPWU) has urged the Chinese Petroleum Corporation (CPC) to hold public forums in a bit to improve its floating oil price index, which is used to set the cost of domestic fuel prices at the pump.
TPWU Chairman Chung Chieh-han welcomed comments from CPC board member Chiu Yi, who revealed plans to improve the transparency of the index, and suggested that public forums could offer suggestions to aid this process. "This is a good thing, and should be carried out as soon as possible,” he said.
Latest figures released by CPC indicate a fall in domestic prices effective today. The projected per-litre price of fuel for 92, 95, and 98-octane gasoline is projected to be NT$34.2, NT$35.7, and NT$37.7, respectively, with the price of super diesel on course to switch to NT$33 per litre.
Economics Minister Chang Chia-juch said in mid February that the oil price index will be revised by industry professionals and submitted to the special task force in charge of improving fuel and electricity prices within two to three months. The new standards will be established and announced to the public in the latter half of the year, he added.

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