Jun 10, 2018 Human Rights Comments Off on Fuel prices down this week
Taipei, Taiwan's two oil refiners will cut their unleaded gasoline and super diesel prices by NT$0.2 per liter from Monday in response to lower international crude oil prices.
State-owned CPC Corp., Taiwan announced Sunday that starting from midnight that day, the pump price for its 92 octane unleaded gasoline will be NT$28.6 per liter, while prices for 95 unleaded and 98 unleaded will be NT$30.1 and NT$32.1, respectively.
CPC super diesel will be sold at NT$26.7 per liter.
Meanwhile, privately run Formosa Petrochemical said it will cut its gasoline and diesel prices, effective from 1 a.m. Monday. With the cut, prices at Formosa Petrochemical gas stations islandwide will be NT$26.4 per liter for super diesel, NT$28.6 per liter for 92 unleaded, NT$30.0 per liter for 95 unleaded and NT$32.1 per liter for 98 unleaded, the company said.
Formosa Petrochemical said international crude prices trended lower this past week amid reports that Saudi Arabia and Russia will likely ease their plans to cut production.
CPC noted that OPEC (Organization of Petroleum Exporting Countries) member-countries increasing their crude supplies and the U.S. continuing to boost its crude output were reasons behind the drop in crude oil prices over the past week.
Based on CPC's weighted oil price formula, made up of 70 percent Dubai crude and 30 percent Brent crude, its average price for imported crude last week was US$74.09 per barrel, compared with US$74.66 a week earlier.
Source: Focus Taiwan News Channel
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