Gasoline prices are to remain unchanged this week, despite a decline in global crude oil prices last week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
Gasoline prices at CPC and Formosa stations are to stay at NT$27.2, NT$28.7 and NT$30.7 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements.
However, the price of premium diesel is to drop NT$0.3 per liter to NT$25.8 per liter at CPC stations and NT$25.6 at Formosa pumps, they said.
The companies’ announcements came after international crude oil prices last week were down for two consecutive weeks ahead of a meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska. The oil market was also facing pressure from plans by OPEC+ members to again raise output next month, the companies said.
Front-month Brent crude oil futures — the international oil benchmark — last week fell 1.11 percent to settle at US$65.85 per barrel on the Intercontinental Exchange, while West Texas Intermediate crude oil futures — the US oil gauge — lost 1.69 percent to US$62.80 per barrel on the New York Mercantile Exchange.
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