Domestic gasoline and diesel prices are to drop NT$0.1 per liter this week, despite international crude oil prices rising last week, as the market digested the decision by the OPEC+ alliance to delay its planned output hikes by a month, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday.
News that the Chinese government has stated that it would implement proactive monetary and fiscal policies next year to boost the country’s economy, and that the EU has implemented a new round of sanctions on Russian oil exports also helped lift oil prices compared with the previous week’s levels, the companies said.
Front month US West Texas Intermediate crude oil futures rose 6.09 percent last week to US$71.29 a barrel and Brent crude futures increased 4.74 percent in the week to US$74.49 per barrel, Bloomberg News reported on Saturday.
After factoring in domestic market competition and global market trends, CPC and Formosa said they are lowering fuel prices for a second consecutive week following a cut of NT$0.1 per liter last week.
Effective today, domestic gasoline prices at CPC and Formosa stations are to fall to NT$28.5, NT$30 and NT$32 per liter for 92, 95 and 98-octane unleaded gasoline respectively.
Premium diesel would cost NT$27.2 per liter at CPC stations and NT$27 at Formosa pumps.
Intel Corp chief executive officer Lip-Bu Tan (陳立武) is expected to meet with Taiwanese suppliers next month in conjunction with the opening of the Computex Taipei trade show, supply chain sources said on Monday. The visit, the first for Tan to Taiwan since assuming his new post last month, would be aimed at enhancing Intel’s ties with suppliers in Taiwan as he attempts to help turn around the struggling US chipmaker, the sources said. Tan is to hold a banquet to celebrate Intel’s 40-year presence in Taiwan before Computex opens on May 20 and invite dozens of Taiwanese suppliers to exchange views
Application-specific integrated circuit designer Faraday Technology Corp (智原) yesterday said that although revenue this quarter would decline 30 percent from last quarter, it retained its full-year forecast of revenue growth of 100 percent. The company attributed the quarterly drop to a slowdown in customers’ production of chips using Faraday’s advanced packaging technology. The company is still confident about its revenue growth this year, given its strong “design-win” — or the projects it won to help customers design their chips, Faraday president Steve Wang (王國雍) told an online earnings conference. “The design-win this year is better than we expected. We believe we will win
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) is expected to share his views about the artificial intelligence (AI) industry’s prospects during his speech at the company’s 37th anniversary ceremony, as AI servers have become a new growth engine for the equipment manufacturing service provider. Lam’s speech is much anticipated, as Quanta has risen as one of the world’s major AI server suppliers. The company reported a 30 percent year-on-year growth in consolidated revenue to NT$1.41 trillion (US$43.35 billion) last year, thanks to fast-growing demand for servers, especially those with AI capabilities. The company told investors in November last year that
Power supply and electronic components maker Delta Electronics Inc (台達電) yesterday said it plans to ship its new 1 megawatt charging systems for electric trucks and buses in the first half of next year at the earliest. The new charging piles, which deliver up to 1 megawatt of charging power, are designed for heavy-duty electric vehicles, and support a maximum current of 1,500 amperes and output of 1,250 volts, Delta said in a news release. “If everything goes smoothly, we could begin shipping those new charging systems as early as in the first half of next year,” a company official said. The new
RSS