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進入《TAIPEI TIMES 焦點》 CPC, Formosa set steepest fuel price cuts since last year
State-run oil refiner CPC Corp, Taiwan （CPC, 中油） yesterday announced that it would slash gasoline and diesel prices by NT$0.90 and NT$1 per liter respectively, bringing the price of 92 unleaded gasoline down to an almost four-year low.
The price cuts are the biggest CPC has made since mid-April last year, as sliding demand and increased supply from the OPEC cartel caused a slump in global crude prices.
“There is oversupply in the market and the International Energy Agency has cut its global crude demand forecast for the third month in a row, while OPEC has no intention of reducing output,” CPC said in a statement posted on its Web site.
Global crude oil prices sank to US$85.39 per barrel last week, dropping 5.13 percent from US$90.01 in the previous week, CPC said, citing its own pricing scheme.
Since the refiner’s crude oil import costs have dropped, domestic fuel prices should fall 4.22 percent, after factoring in the New Taiwan dollar’s favorable position against the greenback, it said.
The local currency appreciated NT$0.047 last week versus the US dollar, CPC said.
Matching CPC’s price reductions, privately run Formosa Petrochemical Corp （台塑石化） yesterday also said it would lower gasoline and diesel prices by NT$0.9 and NT$1 per liter respectively.
新聞來源：TAIPEI TIMES
