By Chen Cheng-hui /
Staff reporter
Gasoline and diesel prices this week are to decrease NT$0.1 per liter following a fall in international crude prices last week, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) said yesterday.
Effective today, gasoline prices at CPC and Formosa stations are to decrease to NT$29.7, NT$31.2 and NT$33.2 per liter for 92, 95 and 98-octane unleaded gasoline respectively, while premium diesel is to cost NT$28.9 per liter at CPC stations and NT$28.7 at Formosa pumps, the companies said in separate statements.
The companies’ price adjustments come as tariff concerns dominate market sentiment, sending global crude oil prices lower last week, the companies said.
US President Donald Trump last week said he was considering 25 percent tariffs on the EU and planned to impose an additional 10 percent levy on imports from China. Tariffs on imports from Canada and Mexico remain scheduled for tomorrow, he said.
The latest US data showed consumer confidence last month registered the largest monthly decline since August 2021, reflecting Americans’ growing worries about inflation and Trump tariffs.
At the same time, concerns over supply risks resurfaced last week after the US imposed a fresh round of sanctions targeting Iran’s oil industry and revoked Chevron Corp’s license to operate in Venezuela.
Front-month US West Texas Intermediate crude oil futures fell 3.82 percent last week to US$69.76 per barrel at the New York Mercantile Exchange, while Brent decreased 4.66 percent to US$73.18 per barrel at London’s ICE Stock Exchange.