Domestic gasoline prices are to drop NT$0.1 per liter this week after increasing for five consecutive weeks, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said in separate statements yesterday.
However, diesel prices are to increase NT$0.7 per liter, rising for the sixth week in a row, the companies said.
The announcement came as international oil prices remained volatile last week due to several factors, such as US crude oil inventories falling for six straight weeks and Libya suspending its oil production at El Sharara, the country’s largest oil field, after protesters forced its closure, the companies said.
Meanwhile, geopolitical tensions in the Middle East continued to raise concerns about supply disruptions and weighed on market sentiment, they added.
Effective today, gasoline prices at CPC and Formosa stations are to fall to NT$29.9, NT$31.4 and NT$33.4 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said.
Premium diesel would cost NT$28.3 per liter at CPC stations and NT$28.1 at Formosa pumps, they said.
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