Focus Taiwan
Date: 2018/06/24
By: Liao Yu-yang, Tien Yu-pin and William Yen

Taipei, June 24 (CNA) Taiwan’s two oil refiners will cut their unleaded gasoline and super diesel prices by NT$0.2 (US$0.0066) per liter from Monday in response to a drop in international crude oil prices.

State-owned CPC Corp., Taiwan said Sunday that effective at midnight, the price of its 92 octane unleaded gasoline will be lowered to NT$28.5 per liter, 95 unleaded NT$30 per liter, 98 unleaded NT$32 and super diesel NT$26.6.

Crude oil prices fell last week because of a continued increase in shale oil production in the United States, according to CPC.

Another factor was the unwillingness of Ecuador to fall in line with a decision by the Organization of the Petroleum Exporting Countries (OPEC) on reducing oil production, which gave rise to worry that other countries would break with the OPEC decision, CPC said.    [FULL  STORY]