The nation’s two oil refiners said yesterday they would cut wholesale gasoline and diesel prices, effective today, as global crude oil prices continue their slide.
In separate statements, state-run CPC Corp, Taiwan (CPC, 台灣中油) and privately owned Formosa Petrochemical Corp (台塑石化) said they would lower wholesale gasoline and diesel by NT$0.7 per liter.
CPC said its weekly price adjustment was made using the company’s floating price mechanism, which showed a decline of 4.6 percent in the company’s crude oil costs of US$72.04 last week from US$75.51 the previous week.
New York’s main futures contract, light sweet crude oil for delivery next month, fell 2.21 percent last week to US$72.89 a barrel on the New York Mercantile Exchange on Friday, exchange data showed.
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes do not work. Approaching a red light, her father swerved around two cars before plowing into a sport utility vehicle and a sedan, and crashing into a large concrete barrier. Stunned, Zhang gazed at the deflating airbag in front of her. She could never have imagined what was to come: Tesla Inc sued her for defamation for complaining publicly about the vehicles brakes — and won. A Chinese court ordered Zhang to pay more than US$23,000 in
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday held its first board of directors meeting in the US, at which it did not unveil any new US investments despite mounting tariff threats from US President Donald Trump. Trump has threatened to impose 100 percent tariffs on Taiwan-made chips, prompting market speculation that TSMC might consider boosting its chip capacity in the US or ramping up production of advanced chips such as those using a 2-nanometer technology process at its Arizona fabs ahead of schedule. Speculation also swirled that the chipmaker might consider building its own advanced packaging capacity in the US as part
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said that its investment plan in Arizona is going according to schedule, following a local media report claiming that the company is planning to break ground on its third wafer fab in the US in June. In a statement, TSMC said it does not comment on market speculation, but that its investments in Arizona are proceeding well. TSMC is investing more than US$65 billion in Arizona to build three advanced wafer fabs. The first one has started production using the 4-nanometer (nm) process, while the second one would start mass production using the
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