Taipei-Taiwan's two major fuel suppliers announced a slight drop Sunday in fuel prices for this week, citing a fall in global crude prices due to the growing trade tension between China and the United States.
State-run CPC Corp., Taiwan said the price adjustment will result in prices at the pump of NT$26.5 per liter for 92 octane unleaded, NT$28.0 per liter for 95 unleaded, NT$30.0 per liter for 98 unleaded, and NT$24.3 per liter for super diesel, effective midnight Sunday.
The adjustment came after a slide in global crude prices over the past week due to a new hardline stance taken by China in trade talks with the U.S., adding to the trade tension, according to CPC.
Meanwhile, CPC's main competitor, Formosa Petrochemical Corp. (FPCC), on Sunday announced an almost identical adjustment of its fuel prices, which will take effect at 1 a.m. Monday.
The privately run FPCC said prices at its gas stations will be NT$26.5 per liter for 92 unleaded, NT$27.9 per liter for 95 unleaded, NT$30.0 per liter for 98 unleaded and NT$24.1 per liter for super diesel.
The prices of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) products supplied by CPC will also drop with effect from midnight Sunday, the company said, citing lower import costs caused by the recent fall in global crude prices.
CPC said the price of LPG for household use will drop by NT$0.9 per kilogram, while LPG for bi-fuel cars will fall by NT$0.5 per kg.
Industrial-grade propane, butane and propane-butane mix will also drop by NT$0.9 per kg, the state-run fuel supplier said.
At the same time, the price of LNG will move down by 5.06 percent on average, which means households that use 30-45 cubic meters of LNG per month will see a decrease of NT$17.70 to NT$26.55 in their monthly bills.
Source: Focus Taiwan News Channel