PROMISING SIGNS:
The indications of a peace deal, or at least a ceasefire, between the US and Iran have global prices easing down slightly after months of shooting
Staff writer, with CNA
State-owned oil supplier CPC Corp, Taiwan (CPC, 台灣中油) announced on Saturday that it would cut domestic gasoline and diesel prices by NT$1.0 (US$0.03) and NT$0.7 per liter respectively this week, reflecting reduced upward pressure on international energy prices.The announcement marked an end to the company’s 11-week streak of leaving its retail fuel prices unchanged amid military conflicts in the Middle East.CPC said in a statement that international crude prices fell last week after the US and Iran announced plans to sign a memorandum of understanding to extend their ceasefire for 60 days and open the Strait of Hormuz, the choke point for about one-fifth of the world’s oil and natural gas supply.
A gas station is pictured on Songshan Road in Taipei on April 17.
