Fuel prices in Taiwan to fall this week

Focus Taiwan
Date: 2019/07/21
By: Wu Jia-jun and Evelyn Kao

Taipei, July 21 (CNA) State-run oil refiner CPC Corp., Taiwan, said it will cut its gasoline prices by NT$0.3 (US$0.01) per liter and diesel prices by NT$0.4 per liter this week, with the new prices to take effect Sunday at midnight.

With the adjustment, retail prices at CPC gas stations will be NT$27.30 per liter for 92 octane unleaded, NT$28.80 per liter for 95 octane unleaded, NT$30.80 per liter for 98 octane unleaded, and NT$25.20 per liter for super diesel.

CPC adjusts its fuel prices weekly based on changes in crude oil prices, using a weighted oil price formula composed of 70 percent Dubai crude and 30 percent Brent crude.

Based on that formula, the price of crude dropped US$1.37 last week to US$63.47 per barrel after tensions eased between the United States and Iran and China's economic growth showed a slowdown.    [FULL  STORY]

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