Mon, Oct 06, 2014 - Page 13 News List

CPC trims gasoline, diesel prices again

By Lisa Wang  /  Staff reporter

State-run oil refiner CPC Corp, Taiwan (CPC, 中油) yesterday said it would trim gasoline and diesel prices by NT$0.2 per liter, bringing domestic fuel prices down to more than two-year lows.

It was the fifth consecutive week of price cuts made by CPC as weak seasonal demand from the US and appreciation of the US dollar have driven down global crude oil prices.

Global crude oil prices fell 1.42 percent to US$93.32 per barrel last week, from US$94.66 in the prior week, CPC said in a statement posted on its Web site.

Domestic fuel prices should drop 0.62 percent after factoring in the adverse effect from depreciation of the local currency against the greenback, the statement said.

Matching CPC’s price reductions, private-run Formosa Petrochemical Corp (台塑石化) yesterday also said it would lower gasoline and diesel prices by NT$0.2 per liter.

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