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Diesel price to decline NT$0.2 starting today

TAIPEI, Taiwan -- Effective today, prices of diesel declined by NT$0.2, while prices of gasoline remained the same, according to domestic oil refineries.

After the adjustment, the prices for 92-octane, 95-octane and 98-octane unleaded gasoline at state-run refinery CPC Corp. stations stand at NT$33.9 a liter, NT$35.4 a liter and NT$37.4 a liter respectively, while the price of diesel comes in at NT$32.7 per liter.

New prices of privately run oil refiner Formosa Petrochemical became effective starting at 1 a.m. today. The company is selling its 92-octane, 95-octane and 98-octane unleaded gasoline at NT$33.8 a liter, NT$35.4 a liter and NT$37.6 a liter respectively, while the price of diesel comes in at NT$32.7 per liter.

In the wake of the Ukraine crisis, international oil prices rose but then went down as Russia's military demonstrated little aggression after its occupation of Crimea. An increase of oil reserves in the U.S. also contributed to the price decline.

This week's 7D3B (70 percent Dubai and 30 percent Brent crude) price index was at an average of US$106.55 per barrel, down US$0.4 from last week's US$106.03, CPC said, adding that the New Taiwan Dollar appreciated against the greenback, resulting in an 0.4 percent oil price decline domestically.

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