By Chen Cheng-hui / Staff reporterState-run oil refiner CPC Corp, Taiwan (CPC, 台灣中油) yesterday announced that it would lower gasoline prices by NT$0.8 per liter and diesel prices by NT$0.9 per liter, effective today. This is compared with hikes of NT$0.6 per liter for gasoline and NT$0.7 per liter for diesel on Monday last week. The price cuts reflect weak sentiment in the international crude oil market last week amid concerns about the spread of COVID-19 outside of China, including Japan, South Korea and Italy, CPC said. Its average crude oil costs last week fell US$4.18 per barrel from the previous week’s US$56.91 to US$52.73 per barrel, the company said. It also announced price cuts for liquefied petroleum gas (LPG) products and left prices unchanged for liquefied natural gas items, effective today.

Source: Taipei Times March 01, 2020 15:56 UTC