Domestic gasoline and diesel prices will go down by NT$2.3 and NT$2.5 per liter respectively today to reflect the recent fall in international crude oil prices.
The latest price adjustment represents not only the biggest drop since the government announced weekly oil price adjustments, on Aug. 1, but also brings the prices of gasoline and diesel products under NT$30 per liter.
After the price adjustment, CPC’s price for a liter of 98-octane unleaded gasoline is NT$29.4, 95-octane unleaded gasoline is NT$27.9, 92-octane unleaded gasoline is NT$27.2 and premium diesel is NT$24.5.
Both state-run CPC Corp, Taiwan (CPC, 台灣中油) and the nation’s only publicly traded oil refiner, Formosa Petrochemical Corp (台塑石化), announced the same price drop yesterday.
The average price of the nation’s crude oil imports last month was US$111.50 a barrel, while crude oil imports fell 20.7 percent from a year earlier to 25.08 million barrels last month as refiners shut units for maintenance, the Ministry of Finance reported on Tuesday.
CPC closed a crude distillation unit at its Talin (大林) refinery in Chiayi County early last month. Formosa shut a fuel-oil unit in Mailiao Township (麥寮), Yunlin County, on Sept. 1 for a scheduled turnaround.
CPC will shut a crude-oil processing unit in its Kaohsiung refinery this month for regular maintenance.
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