Taiwan News
Date: 2016-02-05
By: Central News Agency

Domestic gasoline and diesel prices are expected to move higher next week in the wake of a rebound in international crude oil prices this week, market sources said Friday.

The gains posted by international crude oil prices reflected high hopes that oil-producing countries will cut output in a bid to rein in the weakness in the global oil market, which could prompt local fuel prices to rise for the second consecutive week, the sources said.

Based on the rebound in crude oil prices Thursday, CPC Corp., Taiwan (中油) is likely to raise its gasoline prices by NT$0.6 (US$0.02) per liter next week and diesel prices by NT$0.7 per liter, following a NT$1 hike per liter for both gasoline and diesel prices this week, the sources said.     [FULL  STORY]