TAIPEI, Aug 19 (Reuters) - Taiwan's state-owned Chinese Petroleum Corp (CPC) [CHIP.UL] said on Monday it would raise wholesale gasoline and diesel oil prices by an average 5.55 percent beginning on Tuesday.
Chinese Petroleum, which also increased fuel oil prices by an average 2.59 percent, said the hike was to reflect rising international oil prices, which shot up to US$29.30 per barrel recently from some $25.30 on June 1.
Likewise, rival Formosa Petrochemical Corp, Taiwan's only private refiner, also said it would raise its wholesale gasoline and diesel oil prices by an average 3.87 percent.
Formosa Petrochemical, a unit of tycoon Wang Yung-ching's Formosa plastics group, said unleaded gasoline with an octane of 98 would cost T$20.30 per litre from T$19.50, with the new prices also taking effect from Tuesday.