Fuel prices in Taiwan to remain unchanged this week

11/03/2019 03:51 PM
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Taipei, Nov. 3 (CNA) Taiwan's two major fuel suppliers on Sunday announced that their gasoline and diesel prices will remain unchanged in the coming week after conflicting factors kept international crude prices relatively steady.

The prices at state-run CPC Corp. Taiwan gas stations will remain NT$26.4 per liter for 92 octane unleaded, NT$27.9 per liter for 95 unleaded, NT$29.9 per liter for 98 unleaded and NT$24.2 per liter for super diesel.

CPC said that while easing trade tensions between the U.S. and China resulted in a rise in international oil prices this past week, other factors, including a higher commercial oil inventory in the U.S., offset the increase.

CPC adjusts its fuel prices weekly based on changes in crude oil prices calculated using a weighted oil price formula composed of 70 percent Dubai crude and 30 percent Brent crude.

Based on that formula, the price of crude rose US$0.2 over the past week to US$60.44 per barrel, the company said.

Meanwhile, CPC's main competitor, privately-run Formosa Petrochemical Corp. (FPCC), announced Sunday that its prices will also stay flat in the coming week.

Prices at FPCC gas stations will remain NT$26.4 per liter for 92 unleaded, NT$27.8 per liter for 95 unleaded, NT$29.9 per liter for 98 unleaded and NT$24.0 per liter for super diesel.

(By Liao Yu-yang and Chiang Yi-ching)

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