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.
Comments will be moderated. Keep comments relevant to the article. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned. Final decision will be at the discretion of the Taipei Times.
Author: Michael Pitts
Last Updated: 1702395721
Views: 1334
Rating: 4.7 / 5 (38 voted)
Reviews: 88% of readers found this page helpful
Name: Michael Pitts
Birthday: 1966-10-25
Address: 321 Heather Centers, New Mitchellburgh, MD 55972
Phone: +3936742719395409
Job: Article Writer
Hobby: Bowling, Arduino, Cross-Stitching, Billiards, Yoga, Origami, Pottery
Introduction: My name is Michael Pitts, I am a important, brilliant, sincere, resolute, resolved, Gifted, venturesome person who loves writing and wants to share my knowledge and understanding with you.