CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) are to lower domestic fuel prices following a decline in global crude oil prices last week.
In separate statements yesterday, state-run CPC and privately owned Formosa said that they would lower gasoline and diesel prices by NT$0.1 per liter, effective today.
Based on its floating oil price formula, CPC said that the cost of crude oil last week had declined by 4.3 percent from a week earlier.
Formosa said that the fall in prices of crude oil came as China posted weak export data for last month and the US reported a surge in crude oil inventories last week.
Effective today, gasoline prices at CPC and Formosa stations are to fall to NT$29.6, NT$31.1 and NT$33.1 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
Premium diesel is to cost NT$27.1 per liter at CPC stations and NT$26.9 at Formosa pumps, they said.
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