CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) are to lower domestic diesel prices this week, but leave gasoline prices unchanged from last week.
In separate statements yesterday, state-run CPC and privately owned Formosa said that they would lower diesel prices by NT$0.1 per liter, effective today, following price cuts of NT$0.2 per liter for gasoline and diesel the previous week.
Based on its floating oil price formula, CPC said that the cost of crude oil last week had declined by 1.83 percent from a week earlier.
Formosa said that the fall in prices of crude oil came as the market’s concerns about the impact of the Israeli-Hamas conflict would have on crude oil supply in the Middle East had eased, while China and the US reported declines in their manufacturing purchasing managers’ indices for last month.
Effective today, gasoline prices at CPC and Formosa stations are to fall to NT$29.7, NT$31.2 and NT$33.2 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
Premium diesel is to cost NT$27.2 per liter at CPC stations and NT$27.0 at Formosa pumps, they said.
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