The China Post
Date: October 9, 2016
By: CNA
TAIPEI–Formosa Petrochemical Corp. (台塑石化), a privately owned fuel supplier, said Saturday that it will raise its domestic gasoline and diesel prices next week as the global oil market continued to strengthen this week.
An agreement reached by the members of the Organization of Petroleum Exporting Countries (OPEC) to cut output and a fall in U.S. oil stocks eased worries over a supply glut, prompting Formosa Petrochemical to hike domestic fuel prices.
Starting from 1 a.m. Monday, domestic gasoline and diesel prices at Formosa Petrochemical gas stations will rise by NT$1.1 (US$0.035) per liter and NT$1.2 per liter, respectively. [FULL STORY]