State-run CPC Corp, Taiwan (CPC, 台灣中油) yesterday lowered its domestic prices for gasoline and diesel, one day after the Executive Yuan announced cuts to the commodity tax on fuel.
Tariffs on gasoline and diesel — as well as corn, soybeans, wheat, beef, butter and powdered milk — are to be reduced over a three-month period that began yesterday and ends on April 30.
The reductions are part of a bid to stabilize commodity prices and lessen the burden on consumers purchasing food and beverages, the Executive Yuan said on Sunday.
Photo: Peter Lo, Taipei Times
CPC lowered the price of gasoline by NT$1.1 (US$0.04) per liter, and the price for diesel by NT$0.5 per liter, company spokesman Chang Ray-chung (張瑞宗) said.
The adjustment brings prices at CPC gas stations down to NT$28.70 per liter for 92 octane unleaded, NT$30.2 per liter for 95 unleaded, NT$32.20 per liter for 98 unleaded and NT$26 per liter for super diesel.
This is the second time in about two months that commodity taxes on gasoline and diesel were reduced as the government tried to stabilize consumer prices amid rising international crude oil, staples and transportation costs, CPC data showed.
On Dec. 1 last year, commodity taxes for gasoline and diesel were cut by NT$1 to NT$5.83 and NT$2.99 per liter respectively.
The latest reduction saw the customs duty on gasoline and diesel lowered by NT$1 and NT$0.5 per liter to NT$4.83 and NT$2.49 per liter respectively.
Separately, prices for popular tissue brands Mayflower, Delight and Tender in Taiwan are to be raised later this month, producer Yuen Foong Yu Consumer Products Co (永豐餘消費品實業) said yesterday.
Ahead of the Lunar New Year holiday, the company announced an 8 percent increase in the price of interfold tissue, the most popular tissue product in Taiwan.
Yuen Foong Yu said that the price adjustment would apply to all distribution channels nationwide later this month, but retail prices could vary depending on the distribution channel.
Amid a spike in international raw material costs, the prices of pulp, packaging and power, which account for the bulk of Yuen Foong Yu’s production costs, had increased more than 40 percent last year, with some nearly doubling, the company said.
In addition to paper products, the company owns the cleaning product brands Orange House, Fresh Sense and New Clean.
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