Focus Taiwan
Date: 2018/05/12
By: Liao Yu-yang, Frances Huang and Romulo Huang

Taipei, May 12 (CNA) A mechanism designed by the Ministry of Economic Affairs

CNA file photo

(MOEA) to moderate domestic fuel price increases is scheduled to take effect next week, according to the ministry.

The mechanism is aimed at reducing the financial burden on consumers by stabilizing fuel prices at a time when international crude oil prices have been on the rise amid geopolitical tension, in particular after U.S. President Donald Trump announced U.S. withdrawal from a nuclear agreement with Iran.

The withdrawal from the 2015 international treaty is expected to lead Washington to re-impose economic sanctions on Iran, which could cut the global crude supply and in turn boost international crude prices significantly.    [FULL  STORY]