C-P-C has cut gasoline and diesel prices for a second consecutive week after the U-S and Iran last week began negotiations for a ceasefire and an increase in shipment volumes through the Strait of Hormuz.
The price cuts see gasoline declining by 1 N-T per liter and diesel falling by 0.8 N-T per liter.
The move means that 92 octane unleaded costs 30.4 N-T per liter, while the price of premium diesel has dropped to 29.5 N-T a liter at the pump for this week.
Under C-P-C's floating price mechanism the average international oil price fell to 69.8 U-S dollars per barrel last week.
That was down from 76.39 U-S dollars the previous week.
The state-refiner says although more ships have been passing through the Strait of Hormuz, an attack on a container cargo ship owned by Taiwan's Evergreen Marine last Thursday has renewed safety concerns.
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