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Taiwanese producers cut fuel prices on weak crude

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/10/2014 (15:41)
Taiwan’s CPC Corporation announced that they would reduce their gasoline and diesel prices by TWD0.9/liter ($0.02/liter) and TWD1/liter ($0.03/liter) respectively, bringing the price of gasoline down to an almost four-year low, according to media reports.

The price cuts are the largest that the company has made since mid-April 2013 as global crude oil prices have slumped in the face of slower demand as well as OPEC’s increased supplies.

Following CPC’s reductions, another Taiwanese company, Formosa Petrochemical Corporation, also stated that they would cut their gasoline and diesel prices by TWD0.9/liter and TWD1/liter, respectively.
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