The nation’s two refiners yesterday said they would cut gasoline and diesel prices by NT$0.5 per liter this week, their sixth straight weekly cut, after OPEC’s production increase and a rise in US oil inventories drove world prices down last week. The new rates come into effect today.
Lingering concerns over the eurozone’s debt problems and worries about an unsteady global economic recovery also dampened market sentiment last week, Formosa Petrochemical Corp (台塑石化) said in a statement.
Based on CPC Corp, Taiwan’s (CPC, 台灣中油) pricing mechanism, its average crude oil cost fell US$5.8 per barrel to US$109.92 per barrel last week from the previous week.
Both CPC and Formosa Petrochemical have cut gas and diesel prices by NT$1.4 a liter over the past six weeks, after the government announced increases of between 7 and 11 percent for petroleum-based fuel products on April 1.
TRADE WAR: Tariffs should also apply to any goods that pass through the new Beijing-funded port in Chancay, Peru, an adviser to US president-elect Donald Trump said A veteran adviser to US president-elect Donald Trump is proposing that the 60 percent tariffs that Trump vowed to impose on Chinese goods also apply to goods from any country that pass through a new port that Beijing has built in Peru. The duties should apply to goods from China or countries in South America that pass through the new deep-water port Chancay, a town 60km north of Lima, said Mauricio Claver-Carone, an adviser to the Trump transition team who served as senior director for the western hemisphere on the White House National Security Council in his first administration. “Any product going
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High above the sparkling surface of the Athens coastline, the cranes for building the 50-floor luxury tower centerpiece of Greece’s future “smart city” look out over the Saronic Gulf. At their feet, construction machinery stirs up dust. Its backers say the 8 billion euro (US$8.43 billion) project financed by private funds is a symbol of Greece’s renaissance after the years of financial stagnation that saw investors flee the country. However, critics see it more as a future “ghetto for the rich.” It is hard to imagine that 10km from the Acropolis, a new city “three times the size of Monaco”
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