Formosa Petrochemical to hike fuel prices next week

Focus Taiwan
Date: 2017/09/16
By: Han Ting-ting and Romulo Huang

Taipei, Sept. 16 (CNA) Formosa Petrochemical Corp. (台塑石化), a privately owned fuel supplier, said Saturday it will raise domestic gasoline and diesel prices next week to reflect an increase in international crude oil prices.

The company said it will hike its gasoline and diesel prices by NT$0.2 (US$0.006) per liter, effective 1 a.m. Monday.

After the adjustment, prices at Formosa Petrochemical gas stations islandwide will rise to NT$21.9 per liter for super diesel, NT$24.5 per liter for 92 octane unleaded, NT$25.9 per liter for 95 unleaded and NT$28 per liter for 98 unleaded, the company said in a statement.

Formosa Petrochemical said the rise in crude oil prices this past week resulted from a decline in production by the Organization of the Petroleum Exporting Countries (OPEC) in August and a proposal to extend an existing deal on production cuts.

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