Reported 12 months ago
In a departure from the usual 0.1 yuan adjustments, CPC announced on June 30 that gasoline and diesel prices will be reduced by 0.2 yuan starting the next day, with reference retail prices set at 28.9 yuan per liter for 92 unleaded gasoline, 30.4 yuan for 95 unleaded gasoline, 32.4 yuan for 98 unleaded gasoline, and 26.4 yuan for super diesel. This adjustment was made despite rising international oil prices due to escalating tensions in the Middle East, with the floating oil price index showing a 0.85 USD increase and a 0.107 NTD depreciation against the USD, resulting in a 1.07% increase. To maintain prices lower than neighboring Asian countries, CPC chose to absorb the increases, leading to a net reduction of 0.2 yuan per liter for gasoline and diesel nationwide.
Source: YAHOO