The state-run petroleum company – CPC, Taiwan – is planning on raising gas prices by NT$0.3 at midnight on Sunday night. The move is in line with the company’s floating oil price index.
The increase brings the price of the most common type of gas -- 95-octane unleaded -- to NT$35.3 per liter (US$4.43 per gallon).
CPC, Taiwan says the rise in prices is in line with a rise in global oil prices; that’s following pro-independence results in two referendums in eastern Ukraine, and an optimistic outlook on the demand for oil this summer.