《TAIPEI TIMES》 Fuel prices down NT$0.1 this week

By Chen Cheng-hui / Staff reporter

CPC Corp, Taiwan （CPC, 台灣中油） and Formosa Petrochemical Corp （台塑石化） yesterday announced that they would cut gasoline and diesel prices for this week, ending nine consecutive weeks of price hikes.

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CPC said that it would reduce gasoline prices by NT$0.1 per liter to NT$25.0, NT$26.5 and NT$28.5 for 92, 95 and 98-octane unleaded gasoline respectively.

The price for premium diesel would also fall NT$0.1 per liter to NT$22.3, it added.

Formosa Petrochemical would also lower its prices for 92, 95 and 98-octane unleaded gasoline by NT$0.1 per liter to NT$25.0, NT$26.6 and NT$28.5 respectively, while premium diesel would be NT$0.1 per liter lower at NT$22.1, it said.

The new prices take effect today.

The global crude oil market seesawed last week, affected by news about a pledge by Libya to cut output, a resurgence of COVID-19 cases in China, new lockdowns in some countries and the unexpected drop in US commercial crude oil inventories, CPC and Formosa said in their statements.

Based on CPC’s floating oil price formula, the cost of crude oil last week decreased 0.22 percent from a week earlier, it said.

Separately, CPC said that there would be no price adjustments for liquefied natural gas and liquefied petroleum gas this month, as high demand is expected for the Lunar New Year holiday.

The decision was made in accordance with the government’s policy to help stabilize domestic consumer prices, CPC said.

新聞來源：TAIPEI TIMES