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進入《TAIPEI TIMES》 Fuel prices cut as Russian output soars
/ Staff writer
Domestic fuel prices are to be cut today, the first drop in three weeks, after global crude oil prices moved lower as investors grew jittery about increases in Russian crude oil production, state-run refiner CPC Corp, Taiwan （CPC, 台灣中油） said yesterday.
Russia, one of the largest crude producers outside OPEC, reported that output rose to the highest level in 11 months, reaching 10.97 million barrels per day last month, despite an agreement between the organization and non-OPEC producers to cut production, CPC said in a statement.
NEW PRICES
The average cost of crude oil decreased by US$0.46 per barrel to US$65.89 last week, from US$66.35 the previous week, CPC said.
This allowed the company to cut gasoline and diesel prices by NT$0.1 per liter from today, after factoring in the New Taiwan dollar’s appreciation of NT$0.002 against the US dollar, it added.
TRADE FEARS
Formosa Petrochemical Corp （台塑石化） on Saturday announced similar cuts, effective from today.
The company said that the decline in global crude oil prices last week was also due to worries that demand could fall amid rising friction on trade between Washington and Beijing.
新聞來源：TAIPEI TIMES
