By Chen Cheng-hui / Staff reporter
Gasoline and diesel prices are to fall NT$0.1 per liter this week following a fall in global oil prices last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
As the OPEC+ alliance on Thursday decided to postpone production increases until April 1, and the US Energy Information Administration on Wednesday reported US crude oil production rose to a record 13.513 million barrels per day in the week ending on Nov. 29, global crude oil prices fell last week compared with the previous week, the companies said in separate statements.
Front month US West Texas Intermediate crude oil futures fell 1.18 percent last week to US$67.2 a barrel, and Brent crude futures decreased 1 percent to US$71.12 per barrel on Friday, Dow Jones Newswires reported on Saturday.
CPC said that, based on its floating oil price formula, the cost of crude oil last week decreased 0.32 percent from a week earlier.
Effective today, domestic gasoline prices at CPC and Formosa stations are to decrease to NT$28.6, NT$30.1 and NT$32.1 per liter for 92, 95 and 98-octane unleaded gasoline respectively.
Premium diesel would cost NT$27.3 per liter at CPC stations and NT$27.1 at Formosa pumps.
