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Firms decrease both gasoline and diesel prices by NT$0.4 per liter

TAIPEI, Taiwan -- CPC Corp., the state-owned oil refiner, announced that it will reduce its gasoline and diesel prices by NT$0.4 effective today.

Privately owned Formosa Petrochemical also made the same announcement.

After the adjustment, CPC Corp. will be selling its 92-grade unleaded gasoline for NT$33.9 per liter, 95-grade unleaded gasoline for NT$35.4 per liter, 98-grade unleaded gasoline for NT$37.4 per liter and super diesel for NT$32.8 per liter.

The oil refiner said that since the Libyan government came to an agreement with protesters to suspend strikes at the North African country's oilfields, and since the U.S. Fed decided to dial back on bond purchases, international crude oil prices have declined.

The firm's 70-percent Dubai crude and 30-percent Brent crude index averaged at US$107.91 this week, representing a US$2.05 decrease from last week's US$109.96, while the New Taiwan dollar gained NT$0.036 against the greenback.

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