Mon, Jun 11, 2018 - Page 16 News List

Refiners to drop fuel prices again

By Chen Cheng-hui  /  Staff reporter

CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) yesterday said they would lower fuel prices for a second consecutive week this week on the back of declines in global oil prices.

The two refiners said in separate statements that they would cut gasoline and diesel prices by NT$0.2 per liter, effective today, as global crude oil prices weakened amid reports of the US requesting that Saudi Arabia and OPEC members pump more oil to cover a drop in Iranian exports.

Rising oil production in the US has also continued to dent market sentiment and weighed on crude prices, CPC said.

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