By: Wei Shu and Frances Huang
Taipei, May 20 (CNA) Formosa Petrochemical Corp. (台塑石化), a privately owned
fuel supplier, said Saturday it will raise its domestic gasoline and diesel prices for next week after international crude prices hit a one-month high this week.
Rising optimism about an extension of an oil output cut deal sent international crude oil prices higher, leading Formosa Petrochemical to raise gasoline prices by NT$0.5 (US$0.017) per liter and diesel prices by NT$0.6 per liter, effective 1 a.m. Monday.
After the price hike, prices at Formosa Petrochemical gas stations islandwide will be NT$21.2 per liter for super diesel, NT$23.9 per liter for 92 octane unleaded, NT$25.3 per liter for 95 unleaded and NT$27.4 per liter for 98 unleaded, the fuel supplier said. [FULL STORY]