Fuel goes down NT$0.1 a liter

With the downward adjustment, CPC Corp. is now offering 92-, 95- and 98-grade gasoline at NT$32.4, NT$33.1 and NT$34.6 a liter, respectively, and super diesel at NT$30.4 a liter.

Formosa Petrochemical, CPC's main competitors, is offering its products at the same prices except for 98-grade gasoline, which is offered at NT$34.7 a liter at Formosa gas stations island-wide.

The reduction was the result of a slight drop in the benchmark that CPC uses. That benchmark, an average between oil traded on the Dubai and Brent indices, stood at US$118.05 per barrel last week, a reduction of US$0.3 or 0.31 percent, from the previous week. The margin of decrease translated into a drop of NT$0.1 per liter for both gasoline and diesel fuel prices.

CPC is currently implementing a price absorption measure to accommodate the government's price stabilization plan. Since December last year, CPC has absorbed a total of NT$2.8 per liter of gasoline and NT$3 per liter of diesel fuel.

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