Formosa Petrochemical announces fuel price cut for next week

Focus Taiwan
Date: 2017/06/03

Taipei, June 3 (CNA) Formosa Petrochemical Corp. (台塑石化), a privately owned fuel supplier, said Saturday that it will lower its domestic gasoline and diesel prices for next week, ending a two-week rising streak, after international crude oil prices fell more than 4 percent this week.

Renewed concerns over a global supply glut sent the global crude oil market into a tailspin, which led Formosa Petrochemical to cut its gasoline and diesel prices by NT$0.6 (US$0.02) per liter for next week, effective at 1 a.m. Monday.

This week, Formosa Petrochemical raised its fuel prices by NT$0.2 per liter.

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