State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said it would lower gasoline and diesel prices by NT$0.3 per liter and NT$0.4 per liter respectively, after global crude oil prices dropped amid eased supply concern.
The global crude price fell 1.52 percent to US$107.8 per barrel last week, from US$109.46 in the previous week based on CPC’s pricing scheme, a company statement said.
“Crude oil prices were affected by easing geographic political risk,” CPC said in the statement. “OPEC kept its crude output target unchanged and Iran has reached agreement with the West over the scaling back of its nuclear program.”
Domestic prices declined 1.28 percent after the New Taiwan dollar appreciated NT$0.026 against the US dollar, CPC said.
Formosa Petrochemical Corp (台塑石化) yesterday said it would trim gasoline and diesel prices by NT$0.3 per liter and NT$0.4 per liter.