Formosa Petrochemical to hike fuel prices next week

Focus Taiwan
Date: 2018/01/06
By: Chung Jung-feng and Frances Huang

Taipei, Jan. 6 (CNA) Formosa Petrochemical Corp., a private fuel supplier in Taiwan, said Saturday that it will raise its domestic gasoline and diesel prices next week, after crude oil prices in the U.S. market reached US$62 per barrel at one point earlier this week.

Higher international crude oil prices due to diminishing concerns over a global supply prompted Formosa Petrochemical to raise its gasoline and diesel prices by NT$0.2 (US$0.007) per liter, effective from 1 a.m. Monday.

It is the fourth consecutive week that Formosa Petrochemical will increase domestic fuel prices.    [FULL  STORY]