Gas prices fall to lowest level in nearly 7 months

Taiwan's gas prices are set to drop to the lowest level in nearly seven months. It's the third consecutive week of drops, bringing prices down to levels last seen in November, 2016.

The state-run CPC Corporation, Taiwan will cut gas prices by NT$0.2 (US$0.006) per liter and diesel prices by NT$0.3 (nearly US$0.01) per liter at midnight on Sunday going into Monday morning.

The new prices per liter will be: for super diesel, NT$20.3; for 92 octane unleaded, NT$22.8; for 95 octane unleaded, NT$24.3; and for 98 octane unleaded, NT$26.3 per liter.

CPC Officials say the cut in prices is the result of falls in global crude oil prices. They say that global prices were brought down by increased production by OPEC member countries and a rise in US shale oil production.

Source: Radio Taiwan International