By: Chen Cheng-wei and Romulo Huang
Taipei, Dec. 31 (CNA) Formosa Petrochemical Corp. (台塑石化), a privately owned fuel supplier in
Taiwan, said on Saturday that it will raise gasoline and diesel prices next week, mainly due to an uptrend in international crude oil prices.
The expectation that the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC nations will soon begin cutting production pushed up international crude oil prices over the past week, Formosa Petrochemical said in a statement.
The crude oil price hike has led Formosa Petrochemical to increase gasoline and diesel prices by NT$0.4 (US$0.012) per liter for next week, starting from 1 a.m. on Monday.
After the adjustment, fuel prices at Formosa Petrochemical gas stations islandwide will rise to NT$22.7 per liter for super diesel, NT$25.2 per liter for 92 octane unleaded, NT$26.7 per liter for 95 unleaded and NT$29 per liter for 98 unleaded. [FULL STORY]