Gasoline and diesel prices are to drop NT$0.1 per liter this week following a fall in global oil prices last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) announced separately yesterday.
It is the fourth consecutive week that CPC and Formosa are lowering their fuel prices.
Global crude oil prices moved lower last week due to several factors, such as the strengthening US dollar, the likeliness of Russia lifting restrictions on diesel exports, and higher-than-expected US gasoline inventories, the companies said.
Based on CPC’s floating oil price formula, the cost of crude oil fell 4.42 percent last week from a week earlier, it said.
Effective today, gasoline prices at CPC and Formosa stations are to fall to NT$30.7, NT$32.2 and NT$34.2 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
The price of premium diesel is to be NT$28.3 per liter at CPC stations and NT$28.1 at Formosa pumps, they said.
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