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.
Vincent Wei led fellow Singaporean farmers around an empty Malaysian plot, laying out plans for a greenhouse and rows of leafy vegetables. What he pitched was not just space for crops, but a lifeline for growers struggling to make ends meet in a city-state with high prices and little vacant land. The future agriculture hub is part of a joint special economic zone launched last year by the two neighbors, expected to cost US$123 million and produce 10,000 tonnes of fresh produce annually. It is attracting Singaporean farmers with promises of cheaper land, labor and energy just over the border.
US actor Matthew McConaughey has filed recordings of his image and voice with US patent authorities to protect them from unauthorized usage by artificial intelligence (AI) platforms, a representative said earlier this week. Several video clips and audio recordings were registered by the commercial arm of the Just Keep Livin’ Foundation, a non-profit created by the Oscar-winning actor and his wife, Camila, according to the US Patent and Trademark Office database. Many artists are increasingly concerned about the uncontrolled use of their image via generative AI since the rollout of ChatGPT and other AI-powered tools. Several US states have adopted
A proposed billionaires’ tax in California has ignited a political uproar in Silicon Valley, with tech titans threatening to leave the state while California Governor Gavin Newsom of the Democratic Party maneuvers to defeat a levy that he fears would lead to an exodus of wealth. A technology mecca, California has more billionaires than any other US state — a few hundred, by some estimates. About half its personal income tax revenue, a financial backbone in the nearly US$350 billion budget, comes from the top 1 percent of earners. A large healthcare union is attempting to place a proposal before
KEEPING UP: The acquisition of a cleanroom in Taiwan would enable Micron to increase production in a market where demand continues to outpace supply, a Micron official said Micron Technology Inc has signed a letter of intent to buy a fabrication site in Taiwan from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion to expand its production of memory chips. Micron would take control of the P5 site in Miaoli County’s Tongluo Township (銅鑼) and plans to ramp up DRAM production in phases after the transaction closes in the second quarter, the company said in a statement on Saturday. The acquisition includes an existing 12 inch fab cleanroom of 27,871m2 and would further position Micron to address growing global demand for memory solutions, the company said. Micron expects the transaction to
RSS