Fuel prices to drop this week by NT$0.1 per literBy Chen Cheng-hui / Staff reporterCPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) are to lower domestic fuel prices following a decline in global crude oil prices last week. In separate statements yesterday, state-run CPC and privately owned Formosa said that they would lower gasoline and diesel prices by NT$0.1 per liter, effective today. Based on its floating oil price formula, CPC said that the cost of crude oil last week had declined by 4.3 percent from a week earlier. Formosa said that the fall in prices of crude oil came as China posted weak export data for last month and the US reported a surge in crude oil inventories last week. Premium diesel is to cost NT$27.1 per liter at CPC stations and NT$26.9 at Formosa pumps, they said.

Source: Taipei Times November 12, 2023 21:37 UTC