Mon, Jul 25, 2016 - Page 16 News List

Diesel prices drop, fuel stable following Turkey coup attempt and glut concerns

Staff writer, with CNA

State-run fuel supplier CPC Corp, Taiwan (台灣中油) yesterday announced that it would lower diesel prices by NT$0.1 per liter and would leave gasoline prices unchanged for the coming week.

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After the adjustment, the price of super diesel at gas stations owned by CPC is to decrease to NT$20.1 per liter today, while gasoline prices stay unchanged at NT$22.7 per liter for 92 octane unleaded, NT$24.2 per liter for 95 unleaded and NT$26.2 per liter for 98 unleaded.

CPC said that the fuel price adjustment is reflective of international crude oil prices, which initially moved higher this week due to the shock of an attempted coup in Turkey, but the impact was offset by renewed fears over a global oversupply.

The company calculates its weekly fuel prices based on a weighted floating oil price formula that comprises 70 percent Dubai crude and 30 percent Brent crude.

Formosa Petrochemical Corp (台塑石化), a privately owned fuel supplier, announced a similar price cut on Saturday, effective today, with NT$19.8 per liter for super diesel.

Gasoline prices at Formosa Petrochemical gas stations are to remain unchanged at NT$22.6 per liter for 92 octane unleaded, NT$24.1 per liter for 95 unleaded and NT$26.4 per liter for 98 unleaded.

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