At state-run CPC Corp, Taiwan’s (CPC, 台灣中油) fuel stations, prices are to fall to NT$27.1 per liter for 92-octane unleaded, NT$28.6 per liter for 95-octane unleaded, NT$30.6 per liter for 98-octane unleaded and NT$25 per liter for premium diesel, effective today. CPC said that international oil prices dropped last week as tensions eased in the Middle East. CPC adjusts its fuel prices weekly based on changes in crude oil prices, using a weighted oil price formula composed of 70 percent Dubai crude and 30 percent Brent crude. To keep prices stable during the Lunar New Year holiday, CPC said that it would either retain or lower its fuel prices for the week starting on Monday next week. The company cited lower crude oil prices as a result of the US and China signing a “phase one” trade deal, higher commercial oil inventories in the US and abating tensions in the Middle East.

Source: Taipei Times January 19, 2020 15:56 UTC