State-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it would lower gasoline and diesel prices this week after two weeks of price increases.
The price cuts of NT$0.2 per liter for gasoline products and NT$0.5 for diesel products are to take effect today.
Fuel prices at CPC gas stations are to fall to NT$27.1, NT$28.6 and NT$30.6 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to fall to NT$25 per liter, CPC said in a statement.
GLOBAL PATTERN
Global crude oil prices moved lower last week due to a continued increase in US commercial crude oil inventories and soft demand in the northern hemisphere, the refiner said.
The average cost of its crude oil per barrel for last week fell from US$64.75 to US$62.65, it added.
Privately owned refiner Formosa Petrochemical Corp (台塑石化) yesterday announced similar cuts for this week, also effective today.
The company’s prices for 92, 95 and 98-octane unleaded are to fall to NT$27.1, NT$28.5 and NT$30.6 per liter respectively, with premium diesel retreating to NT$24.8 per liter.
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