Mon, Aug 06, 2018 - Page 16 News List

Gasoline prices unchanged, diesel drops by NT$0.1

By Chen Cheng-hui  /  Staff reporter

CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it would keep its gasoline prices unchanged, but cut diesel prices by NT$0.1 per liter, effective today.

The state-run refiner said that global crude oil prices moved within a narrow range last week amid mixed factors, including rising demand in the northern hemisphere and growing geopolitical tensions in the Middle East.

The still-high OPEC production last month and an unexpected increase in US crude oil inventories also weighed on market sentiment, CPC said in a statement.

The oil market sentiment was also affected on news of increasing oil output from Saudi Arabia and Russia, Formosa Petrochemical Corp (台塑石化) said in a separate statement.

Formosa said it would match CPC’s price adjustments, after factoring in the exchange rate for the New Taiwan dollar and local market competition.

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