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Fuel prices expected to be lowered on Monday

Fuel prices expected to be lowered on Monday

Taipei, Oct. 10 (CNA) Domestic gasoline and diesel prices could be cut by NT$0.5 to NT$0.6 on Monday, according to an industrial estimate based on Taiwan's formula for calculating fuel prices and recent movements in international crude oil prices. State-run oil company CPC Corp., Taiwan, will announce if domestic fuel prices will be adjusted and by how much on Sunday at noon. If the estimate is correct, then the new prices will be NT$31 (US$1.02) per liter for 92 octane unleaded gasoline, NT$32.5 per liter for 95 octane unleaded gasoline and NT$34.5 per liter for 98 octane unleaded gasoline. The price for super diesel would fall to NT$29.6 per liter. Domestic gasoline and diesel prices have been lowered five times since the beginning of September as international crude prices have fallen. Fuel prices are based on weekly changes in a weighted crude oil price index consisting of 70 percent Dubai crude and 30 percent Brent crude. The index fell US$2.73 per barrel from the previous week to US$90.59 as of Wednesday, according to CPC Corp.'s official website. (By Milly Lin and Kuo Chung-han)


Updated : 2021-10-17 19:56 GMT+08:00