Gasoline prices are to fall NT$0.3 per liter this week as global crude oil prices moved lower last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday.
Crude oil prices fell last week, as market sentiment was affected by factors such as Goldman Sachs Group Inc downgrading its outlook on prices of Brent crude this year and an unexpected weekly rise in US crude oil inventories, the companies said.
Strong Chinese refinery data for last month also weighed on the oil market, they added.
Gasoline prices at CPC and Formosa stations are today to decrease to NT$28.5, NT$30.0 and NT$32.0 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
However, the price of premium diesel is to increase NT$0.2 per liter to NT$27.2 at CPC stations and to NT$27.0 at Formosa pumps after the companies factored in their oil price formulas, domestic market competition and global market trends, they said.
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