By: Milly Lin and Elizabeth Hsu
Taipei, Aug. 30 (CNA) Gasoline prices in Taiwan will move lower by NT$0.7 (US$0.022) per liter, while diesel prices will be cut by NT$0.8 per liter, starting midnight Sunday, according to the state-owned CPC Corp., Taiwan (中油).
International oil prices have experienced vigorous fluctuations over the past week, with first a sharp fall being recorded due to concerns over a slowdown of China’s economy, the second-largest in the world, and then a rebound thanks to Beijing’s monetary policy easing and the economic growth of the United States, the company said.
The overall drop in oil prices was still substantially greater than the rebound on average during the week, it added. [FULL STORY]