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Gas & diesel prices might decrease NT$0.6 per liter

State-run oil CPC Corp. Taiwan is expected to slash domestic gasoline and diesel oil prices by NT$0.6 per liter to reflect decreased crude oil costs starting next Monday, according to company sources.

After the price cut, the gasoline and diesel oil prices may drop to the lowest levels seen since Aug. 13, the sources said.

At the moment, 92-grade unleaded oil sells for NT$34.0 per liter, 95 for NT$35.5, 98 for NT$37.5 and premier diesel oil for NT$32.9.

CPC officials said as of Wednesday, the average weekly crude oil price stood at US$107.62 per barrel, down from US$111.56 of a week earlier. This would enable the CPC to cut its domestic sales prices by NT$0.6 per liter for both gasoline and diesel oil after taking into consideration the NT$0.043 depreciation of the New Taiwan dollar against the U.S. dollar.

But the officials also noted that the movement of the Dubai and Brent crude oil prices on Thursday and Friday will serve to determine the exact size of reduction on domestic oil sales prices.

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