Mon, Aug 05, 2019 - Page 16 News List

Gasoline, diesel prices unchanged as crude steadies

By Chen Cheng-hui  /  Staff reporter

State-owned refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday said that it would not adjust its gasoline and diesel prices this week, as global crude oil prices changed little last week.

CPC said its average crude oil costs dropped US$0.08 per barrel to US$62.75 last week from the previous week, as positive factors, including a continued decline in US commercial crude inventories and rising demand in the northern hemisphere during the peak season, were offset by negative factors, such as the unresolved US-China trade dispute.

After taking into account a depreciation of NT$0.079 in the New Taiwan dollar against the US dollar last week, CPC said that it would keep domestic fuel prices unchanged this week based on its weighted pricing mechanism.

The company uses a weighted oil price formula composed of 70 percent Dubai crude and 30 percent Brent crude.

CPC is to keep its wholesale prices at NT$27.2 per liter for 92-octane unleaded gasoline, NT$28.7 for 95-octane unleaded gasoline, NT$30.7 for 98-octane unleaded and NT$25.1 for premium diesel, it said in a statement.

Formosa Petrochemical Corp (台塑石化) also said it would not change prices this week, keeping them at NT$27.2 per liter for 92-octane unleaded, NT$28.6 for 95-octane unleaded, NT$30.7 for 98-octane unleaded and NT$24.9 for super diesel.

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