Gasoline prices at domestic fuel stations will remain the same this week, while diesel prices will rise by NT$0.2 per liter, according to CPC Corp, Taiwan, and Formosa Petrochemical Corp.
The companies made the announcement after international oil prices experienced fluctuations last week. These changes were influenced by both positive and negative factors. On the positive side, there were signs of easing trade tensions between the US and China. However, Russia’s missile attacks on Ukraine’s capital, Kyiv, and plans by some OPEC+ members to increase production in June weighed on the market.
Last Friday, Brent crude oil futures, the international benchmark, dropped by 1.6%, closing at US$66.87 per barrel. Meanwhile, West Texas Intermediate crude oil futures, the US benchmark, fell by 1.55%, ending the week at US$63.02 per barrel.
CPC Corp noted that, according to its floating oil price formula, the cost of crude oil imports rose by 1.15% last week.
Starting today, gasoline prices at CPC and Formosa stations will remain at NT$28.3 for 92-octane, NT$29.8 for 95-octane, and NT$31.8 for 98-octane unleaded gasoline. Premium diesel will be priced at NT$27.1 per liter at CPC stations and NT$26.9 at Formosa stations.
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