CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday announced that they would cut gasoline prices by NT$0.4 per liter, effective today, after raising prices by NT$0.3 per liter last week.
Diesel prices are to increase by NT$0.2 per liter this week, after they remained unchanged the previous week, the companies said.
Global crude oil prices fell last week after the latest economic indicators showed a slowdown in the manufacturing sectors of China and the US, CPC said in a statement.
Oil prices also edged lower as concerns over new COVID-19 outbreaks weighed on market sentiment, it said. An unexpected increase in US crude oil inventories last week added extra pressure on oil prices, Formosa said in a separate statement.
After the adjustment, gasoline prices at CPC stations would fall to NT$28.3, NT$29.8 and NT$31.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would rise to NT$26.0 per liter, the company said.
Prices at Formosa’s stations would drop to NT$28.3, NT$29.7 and NT$31.8 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would increase to NT$25.8 per liter.
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