By: Wei Shu and Frances Huang
Taipei, March 19 (CNA) Formosa Petrochemical Corp. (台塑石化), a private gasoline supplier in Taiwan, said Saturday that it has decided to cut its gasoline prices for next week and to maintain its diesel price unchanged, partly in reflection of a strong Taiwan dollar against the U.S. dollar.
Meanwhile, Formosa Petrochemical said that a rebound in international crude oil prices in the latter part of this week offset a fall seen earlier in the week, which made the calculation of its fuel prices for next week closer to those seen this week.
Therefore, Formosa Petrochemical has decided to make a small adjustment by cutting fuel prices by NT$0.1 (US$0.003) per liter next week after a NT$0.9 hike per liter set for this week. The price cut is scheduled to take effect at 1 a.m. Monday. [FULL STORY]