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Taiwan fuel prices to come down starting Monday

Taiwan fuel prices to come down starting Monday

Taipei, March 1 (CNA) Domestic gasoline and diesel prices will fall for the first time in a month Monday morning after three consecutive weeks of price increases because of rebounding international crude oil prices, local refiners announced Sunday. After the downward adjustment of NT$0.3 per liter, state-owned CPC Corp. Taiwan (????) will be selling its 92-octane, 95-octane and 98-octane unleaded gasoline for NT$25, NT$26.5 and NT$28.5 a liter and its premium diesel for NT$23.1 a liter. Private refiner Formosa Petrochemical Corp. (FPC, ????) also cut its prices, to NT$24.9, NT$26.2 and NT$28.7 a liter, respectively, for its 92-octane, 95-octane and 98-octane unleaded gasoline and NT$22.8 a liter for its premium diesel. The private refiner said global oil prices fell last week due to a rise in U.S. crude oil inventories, though later rebounding due to stronger demand as another winter storm hit the east coast of the United States. After taking several factors into account, including the movements of global oil prices and competition in Taiwan's domestic market, Formosa Petrochemical decided to lower its gasoline and diesel prices, the private refiner added. CPC Corp. adjusts its fuel prices on a weekly basis based on a floating price formula consisting of 70 percent Dubai crude and 30 percent Brent crude. (By Pan Chi-I and Evelyn Kao)


Updated : 2021-09-20 06:32 GMT+08:00