Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, 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$26.4, NT$27.9 and NT$29.9 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$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said.
The price adjustments came even as international crude oil prices rose last week, as traders weighed various factors, such as the prospects of oil production in Venezuela following recent political upheaval, Saudi Arabia’s announcement of price cuts for next month’s oil shipments to Asia and the US’ mulling of imposing high tariffs on countries that purchase Russian crude oil, the companies said.
Brent crude oil futures — the international oil benchmark — last week gained 4.26 percent to settle at US$63.34 per barrel on the Intercontinental Exchange.
West Texas Intermediate crude oil futures — the US oil benchmark — increased 3.14 percent to US$59.12 per barrel on the New York Mercantile Exchange.
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