CPC to Lower Oil Prices by NT$0.6 for Gasoline and NT$0.7 for Diesel Starting July 6

Taipei, July 4 (CNA) International oil prices fluctuated slightly downward due to ongoing negotiations between the United States and Iran and a lack of consensus on passage through the Strait of Hormuz. CPC Corporation, Taiwan (CPC) announced today that effective from midnight on July 6 to midnight on July 12, the prices of gasoline and diesel will be reduced by NT$0.6 and NT$0.7 per liter, respectively.

The reference retail prices at CPC will be NT$29.8 per liter for 92-octane unleaded gasoline, NT$31.3 per liter for 95-octane unleaded gasoline, NT$33.3 per liter for 98-octane unleaded gasoline, and NT$28.8 per liter for super diesel.

CPC stated that while the US and Iran continue their negotiations, there is still no agreement on the full and free passage through the Strait of Hormuz, leading to a slight decrease in international oil prices after fluctuations.

CPC further explained that considering the special measures implemented from February 28 to July 5 to stabilize prices, which resulted in an absorption of approximately NT$16.71 billion for gasoline and diesel combined, as well as the oil price subsidies in neighboring Asian countries like Japan and South Korea, a comprehensive assessment has been made. With the government's expanded reduction in commodity tax, absorbing NT$3.7 and NT$2.1 for gasoline and diesel respectively, domestic gasoline and diesel prices will be reduced by NT$0.6 and NT$0.7 per liter from July 6 to July 12. (Editor: Lin Shu-yuan) 1150704

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