Despite high global crude oil prices, the nation’s two oil refiners yesterday announced cuts in domestic gasoline and diesel prices, effective today.
CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements that they would lower gasoline and diesel prices by NT$0.10 a liter each.
“We should have raised oil product prices to match the global trend, but we decided to cut prices instead, considering the recent appreciation of the NT dollar against the greenback,” Formosa said.
Residents of areas affected by Typhoon Morakot will enjoy discounts of NT$2.20 per liter for gasoline and NT$1.30 for diesel, down NT$0.10 respectively from a week ago.
On Nov. 11, lawmakers passed a resolution asking the government to cap prices of 95-octane unleaded gasoline at NT$32.5 per liter and NT$28 per liter for premium diesel to assist low-income households.
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