By Lin Shu-yuan and Ted Chen
Taipei, May 31 (CNA) State-run CPC Corp., Taiwan (中油) on Sunday announced that effective midnight, June 1, the price of gasoline and diesel will be reduced by NT$0.3 and NT$0.4 per liter, respectively.
Following the change, the per-liter price of 92-octane gasoline will be NT$25.6, while those of 95- and 98-octane gasoline will be NT$27.1 and NT$29.1, respectively, with the price of premium diesel falling to NT$23.6 per liter.
CPC said that the price adjustment reflects a number of factors that has caused international oil prices to decline, including a surge in oil exports from Iraq and a marked rise in the U.S.’s crude oil reserves. [FULL STORY]