By: Wei Shu and Romulo Huang
Taipei, April 2 (CNA) Formosa Petrochemical Corp. (台塑石化), a private gasoline supplier in Taiwan, announced Saturday that it will cut its gasoline and diesel prices by NT$0.3 (US$0.009) and NT$0.4 per liter, respectively, next week, starting from April 4 at 1 a.m.
Formosa Petrochemical said it decided to lower the prices after the weighted average of international crude oil prices fell this past week, while taking competitive factors of the domestic market into account.
Formosa Petrochemical has been implementing its fuel price cuts a day earlier than state-owned oil supplier CPC Corp., Taiwan (中油), its major rival in the local market, since February.
CPC is scheduled to announce its price adjustments Sunday noon, with the new prices set to take effect at midnight.
After the latest price adjustments, fuel prices at Formosa Petrochemical gas stations will decline to NT$18.1 per liter for super diesel, NT$21 per liter for 92 octane unleaded, NT$22.5 per liter for 95+ octane unleaded and NT$24.8 per liter for 98 octane unleaded. [SOURCE]