By: Pan Chi-i and Frances Huang
Taipei, July 8 (CNA) Formosa Petrochemical Corp. (台塑石化), a privately owned fuel supplier, said
on Saturday that it will raise domestic gasoline and diesel prices for next week, marking the second consecutive week the company has hiked its fuel prices, dealers said.
Concerns over a global supply glut eased after a fall in crude oil inventories in the U.S. market, prompting Formosa Petrochemical to increase gasoline prices by NT$0.4 (US$0.013) per liter and diesel prices by NT$0.5 per liter, effective at 1 a.m. on Monday.
The latest price hike came after Formosa Petrochemical raised fuel prices by NT$0.3 per liter this week.
Following the increase, prices at its gas stations islandwide will rise to NT$20.5 per liter for super diesel, NT$23.2 per liter for 92 octane unleaded, NT$24.6 per liter for 95 unleaded and NT$26.7 per liter for 98 unleaded, Formosa Petrochemical said. [FULL STORY]