Gasoline prices are to remain unchanged this week, despite a rise in global crude oil prices, 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$0.1 per liter to NT$26.1 per liter at CPC stations and NT$25.9 at Formosa pumps, they said.
The companies’ announcements came after international crude oil prices rebounded last week, following Ukraine’s continued attacks on Russian energy facilities and Moscow’s announcement that it would restrict some diesel exports until the end of the year and extend its gasoline export ban.
In addition, a bigger-than-expected decrease in US commercial crude oil stockpiles in the week ended on Sept. 19, according to the latest US Energy Information Administration report, also provided support to oil prices, the companies said.
Front-month Brent crude oil futures — the international oil benchmark — last week gained 5.17 percent to settle at US$70.13 per barrel on the Intercontinental Exchange, while West Texas Intermediate crude oil futures — the US oil gauge — rose 5.32 percent to US$65.72 per barrel on the New York Mercantile Exchange.
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