CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it is cutting gasoline and diesel prices, from today, for the first time in five weeks.
The state-run refiner said it will lower the prices for gasoline by NT$0.3 per liter and NT$0.4 per liter for diesel as global oil prices dropped last week on concern whether OPEC members would stand by their commitment to cut production.
CPC said its average crude oil costs fell US$0.94 per barrel to US$53.63 last week. With the NT dollar appreciating NT$0.241 against the US dollar last week, CPC said its weighted oil price formula showed a 1.97 percent decrease over the week.
With the cuts, prices at CPC-run fuel stations across the nation are to be NT$22.7 per liter for super diesel, NT$25.0 per liter for 92-octane unleaded gasoline, NT$26.5 per liter for 95-octane unleaded gasoline and NT$28.5 per liter for 98-octane unleaded gasoline.
Formosa Petrochemical Corp (台塑石化) made a similar announcement the previous day.
Fuel prices at Formosa Petrochemical gas stations have dropped to NT$22.4 per liter for super diesel, NT$24.9 per liter for 92-octane unleaded, NT$26.4 per liter for 95-octane unleaded and NT$28.7 per liter for 98-octane unleaded.
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