Caltex announced cuts in fuel prices effective from midnight last night. The prices of Gold Unleaded and Platinum Unleaded petrol were both cut HK$1 a litre, to HK$12.78 and HK$13.62, respectively. The cut was larger than the three price cuts introduced in November. A company spokesman said the move reflected the economic situation and efforts to increase the transparency of fuel prices. An Environment Bureau spokesman welcomed the cuts.