Feb 12, 2017 Market Comments Off on CPC to cut fuel prices by NT$0.1 per liter
Taipei--The state-owned CPC Corp., Taiwan (??) announced Sunday that it will cut its diesel and gasoline prices by NT$0.1 (US$0.003) per liter with effect from midnight, based on lower international crude oil prices.
After the hike, fuel prices at CPC gas pumps will be NT$22.6 per liter for super diesel, NT$24.9 per liter for 92 octane unleaded, NT$26.4 per liter for 95 octane unleaded, and NT$28.4 for 98 octane unleaded.
CPC calculates its weekly fuel prices based on a weighted oil price formula comprising 70 percent Dubai crude and 30 percent Brent crude (7D3B). The company's data showed the average price per barrel of 7D3B at US$54.25 last week, representing a drop of US$0.47 from the previous week.
Although member states of the Organization of the Petroleum Exporting Countries (OPEC) continued to maintain an agreement to cut production, international crude oil prices nevertheless dropped over the past week because of a spike in the United States' commercial crude inventory by 13.83 million barrels, according to the CPC.
Based on the floating oil price formula, domestic fuel prices will drop NT$0.1 per liter at fuel pumps nationwide, CPC said.
Source: Focus Taiwan News Channel
Comments Off on Chinese Premier Visits Wuhan as Virus Death Toll Hits 80
Comments Off on Philippine Ilocano basketball tourney tips off in Taichung
Comments Off on WUHAN VIRUS / Taiwan tightens restrictions on people with recent Hubei travel history
Comments Off on U.S. dollar closes higher on Taipei forex market
Comments Off on Think tank raises Taiwan 2020 GDP growth forecast to 2.67%
Comments Off on U.S. brokerage raises target price on TSMC shares to over NT$400