Refineries CPC and Formosa lower gasoline, diesel prices

Both CPC Corp. and Formosa Petrochemical this morning cut gasoline and diesel prices by NT$0.3 and NT$0.4 a liter, respectively. With the price adjustment, CPC Corp., the state refiner, is selling 92-, 95- and 98-grade gasoline at NT$34.5, NT$36 and NT$38 a liter, respectively, and super diesel at NT$33.4 a liter.

Formosa Petrochemical, CPC's main competitor, is meanwhile offering its 92-, 95- and 98-grade products at NT$34.4, NT$36 and NT$38.2, respectively, and diesel at NT$33.4.

According to CPC, international oil prices have dropped after an increase in U.S. crude reserves, smaller-than-expected impact from Hurricane Isaac, and possibility that the U.S. and the G7 nations may release oil from their war reserves.

The benchmark that CPC uses, an average between oil traded on Dubai and Brent indices, fell to US$111.21 per barrel, down US$1.89 from the US$113.1 a week earlier.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Tokyo officials take survey of disputed islands

NEXT ARTICLE
CEPD chief demands apology from Apple Daily writer

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit