Gas prices to rise again after hitting three-year high

Taiwan's gas prices are set to rise again, after an increase last week sent fuel prices to the highest level since December, 2014.

The state-run CPC Corporation, Taiwan will increase gas prices by NT$0.2 (about US$0.007) and diesel prices by NT$0.3 (about US$0.01) per liter. The new prices will go into effect at midnight on Sunday going into Monday morning.

The new prices per liter will be: for super diesel, NT$25.1; for 92 octane unleaded, NT$27.1; for 95 octane unleaded, NT$28.6; and for 98 octane unleaded, NT$30.6 per liter.

CPC says it's raising prices again in line with climbing international crude oil prices. Those increases have been driven by a decrease in the United States' crude oil inventory for eight consecutive weeks and by continuous cuts in production by Organization of the Petroleum Exporting Countries (OPEC).

Source: Radio Taiwan International