CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) are to lower domestic gasoline prices this week, but leave diesel prices unchanged from last week.
In separate statements yesterday, state-run CPC and privately owned Formosa said that they would lower gasoline prices by NT$0.1 per liter, effective today, following price cuts of NT$0.1 per liter the previous week.
Based on its floating oil price formula, CPC said that the cost of crude oil last week had declined by 1.99 percent from a week earlier.
Formosa said that the fall in prices of crude oil came after US crude oil production remained high last week and oil inventories rose higher than expected, while industrial production data for last month were weak.
Effective today, gasoline prices at CPC and Formosa stations are to fall to NT$29.5, NT$31.0 and NT$33.0 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
Premium diesel is to stay at NT$27.1 per liter at CPC stations and NT$26.9 at Formosa pumps, they said.
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