《TAIPEI TIMES》 CPC and Formosa announce gasoline, diesel price cuts

By Chen Cheng-hui /

Gasoline and diesel prices this week are to drop by NT$0.5 and NT$0.3 per liter respectively after remaining unchanged for three straight weeks, CPC Corp, Taiwan （CPC, 台灣中油） and Formosa Petrochemical Corp （台塑石化） announced separately yesterday.

Gasoline prices at CPC stations would drop to NT$22, NT$23.5 and NT$25.5 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while the price of premium diesel would fall to NT$19.5 per liter, the state-run refiner said in a statement.

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Formosa said that it would lower its prices for 92, 95 and 98-octane unleaded gasoline to NT$22, NT$23.4 and NT$25.5 per liter respectively, while the price of premium diesel would be NT$19.3 per liter.

CPC said that based on its floating oil price formula, the cost of crude oil last week decreased 7.55 percent from a week earlier.

The decline reflected cautious market sentiment last week amid worries about Saudi Arabia cutting prices for next month’s crude oil contracts and the pandemic situation in the US after the Labor Day weekend, the refiner said.

An unexpected increase in US commercial crude inventories last week also raised concerns about the recovery of oil demand, Formosa said.

新聞來源：TAIPEI TIMES