Formosa Petrochemical to raise fuel prices next week

Focus Taiwan
Date: 2016/03/26
By: Wei Shu and Romulo Huang

Taipei, March 26 (CNA) Formosa Petrochemical Corp. (台塑石化), a private gasoline supplier 201603260021t0001in Taiwan, said Saturday that it will raise its gasoline and diesel prices by NT$0.2 (US$0.006) per liter next week, starting at 1 a.m. March 28.

Formosa Petrochemical said it decided to raise prices after a weighted average of international crude oil prices rose this past week.

Crude prices moved higher on expectations that members of the Organization of the Petroleum Exporting Countries (OPEC) and non-member petroleum producers would discuss cutting production at a meeting slated for April 17.

The rise was partially mitigated during the week, however, when data released on March 23 showed that United States commercial crude oil inventories jumped 9.4 million barrels during the week that ended on March 18.

After the latest price adjustments, fuel prices at Formosa Petrochemical gas stations will rise to NT$18.5 per liter for super diesel, NT$21.3 per liter for 92 octane unleaded, NT$22.8 per liter for 95+ octane unleaded and NT$25.1 per liter for 98 octane unleaded.      [SOURCE]

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