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Fuel prices in Taiwan expected to fall to four-year low

Fuel prices in Taiwan expected to fall to four-year low

Taipei, Nov. 7 (CNA) Domestic gasoline and diesel retail prices are likely to drop by between NT$0.4 and NT$0.6 per liter next Monday to their lowest levels in four years, according to an estimate based on Taiwan's formula for calculating floating fuel prices. The new prices are estimated at NT$27.8 per liter for super diesel, NT$29.4 per liter for 92 octane unleaded gasoline, NT$30.9 per liter for 95 octane unleaded gasoline and NT$32.9 per liter for 98 octane unleaded gasoline. Fuel prices in Taiwan 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$3.24 per barrel from the previous week to US$81.31 as of Nov. 5, according to the website of the state-run oil company CPC Corp., Taiwan. Each Sunday, CPC Corp. announces whether domestic fuel prices will be adjusted and by how much. (By Lin Meng-ju and Y.F. Low)