By Chen Cheng-hui / Staff reporterDomestic gasoline and diesel prices are this week to increase by NT$0.2 per liter to reflect higher international crude oil prices, CPC Corp, Taiwan (CPC, 台灣中油) and Formosa Petrochemical Corp (台塑石化) announced separately yesterday. The hikes mark the second consecutive week that local fuel prices have been raised. Global crude oil prices moved higher last week amid an easing of US-China trade tensions and the planned stock market debut of Saudi Arabian Oil Co (Aramco), CPC said. Last week, the average cost of its crude oil per barrel increased to US$62.02, from US$61.46 the previous week, the company added. The company matched CPC’s price adjustments after factoring in the exchange rate for the New Taiwan dollar and local market competition, Formosa said.

Source: Taipei Times November 17, 2019 15:56 UTC