Gasoline and diesel prices will decrease by NT$0.1 per liter this week due to a drop in global oil prices, Taiwan’s CPC Corp and Formosa Petrochemical Corp announced yesterday.
The reduction follows the OPEC+ alliance’s decision on Thursday to delay planned production increases until April 1. Additionally, the US Energy Information Administration reported a rise in US crude oil production to a record 13.513 million barrels per day for the week ending November 29. These factors led to a decline in global crude oil prices last week, the companies said in separate statements.
US West Texas Intermediate (WTI) crude oil futures for the front month fell by 1.18 percent last week to US$67.2 per barrel. Brent crude futures dropped 1 percent to US$71.12 per barrel as of Friday, according to Dow Jones Newswires.
CPC stated that its floating oil price formula showed a 0.32 percent decrease in crude oil costs compared to the previous week.
Starting today, prices at CPC and Formosa stations will be adjusted as follows:
92-octane unleaded gasoline: NT$28.6 per liter
95-octane unleaded gasoline: NT$30.1 per liter
98-octane unleaded gasoline: NT$32.1 per liter
Premium diesel will cost NT$27.3 per liter at CPC stations and NT$27.1 per liter at Formosa stations.
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