Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, after international crude oil prices fluctuated within a narrow range last week amid a mixed bag of positive and negative factors, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday.
Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.6, NT$28.1 and NT$30.1 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements.
The price of premium diesel is to fall to NT$25 per liter at CPC stations and NT$24.8 at Formosa pumps, they said.
Oil market sentiment drifted last week, but average prices moved higher than the previous week, as traders weighed factors, such as the prospects of higher supply, the heightened tensions between Russia and Ukraine, Saudi Arabia’s latest airstrikes in southern Yemen and a marked increase in the US crude oil inventories in the week ended on Dec. 19, they said.
Front-month Brent crude oil futures — the international oil benchmark — last week gained 0.85 percent to settle at US$60.75 per barrel on the Intercontinental Exchange.
Meanwhile, West Texas Intermediate crude oil futures — the US oil benchmark — increased 1.02 percent to US$57.32 per barrel on the New York Mercantile Exchange.
Micron Memory Taiwan Co (台灣美光), a subsidiary of US memorychip maker Micron Technology Inc, has been granted a NT$4.7 billion (US$149.5 million) subsidy under the Ministry of Economic Affairs A+ Corporate Innovation and R&D Enhancement program, the ministry said yesterday. The US memorychip maker’s program aims to back the development of high-performance and high-bandwidth memory chips with a total budget of NT$11.75 billion, the ministry said. Aside from the government funding, Micron is to inject the remaining investment of NT$7.06 billion as the company applied to participate the government’s Global Innovation Partnership Program to deepen technology cooperation, a ministry official told the
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