Although global crude oil prices continued to hover near a high of US$80 a barrel, the nation’s two oil refiners yesterday announced lower domestic gasoline and diesel prices effective today.
CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) cut gasoline prices by NT$0.20 a liter and diesel prices by NT$0.10 a liter.
“We should have raised oil product prices to match the global trend, but we decided to cut prices instead, considering the current market competition,” Formosa said.
Residents living in areas that were hit hard by Typhoon Morakot will enjoy discounts of NT$2.30 per liter for gasoline and NT$1.40 for diesel, down NT$0.20 and NT$0.10 respectively from less than a week ago.
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