Oil traders further cut gasoline and diesel prices

BANGKOK, Sept 13 (TNA) - All local oil traders have announced a new price cut in gasoline and diesel by 0.40 baht and 0.50 baht per liter respectively, effective from 05.00 hours on Thursday (September 14).

Chaivat Churitti, PTT Public Company Limited (PTT) Senior Executive Vice President for Oil Business Group, said on Wednesday that the company had decided to further reduce the retail gasoline and diesel prices because global oil prices had continued to decline.

In the past four weeks, the company has already reduced gasoline and diesel prices altogether by 3.80 baht and 1.30 baht per liter.

Should the global oil prices continue to drop, PTT is ready to further cut its retail fuel prices, Mr. Chaivat noted.

Following the PTT's move, all other local oil traders also announced to cut the retail fuel prices of all categories offered at their service stations in Greater Bangkok at the same rates.

The new prices are 26.39 baht per liter for premium gasoline, 25.59 baht per liter for regular gasoline, 24.89 baht per liter for gasohol and 26.24 baht per liter for diesel.

On Wednesday, the crude oil price in Dubai further dropped to stay at US$61.42 per barrel, while refined gasoline and diesel prices in Singapore at US$66.26 and US$77.53 per barrel.

The continued decline in the global oil prices stems from news reports that Iran's oil minister has affirmed that Tehran will continue to export oil, rather than using it as a bargain for a political dispute.

As well, the Organization of Petroleum Exporting Countries (OPEC) resolved at its meeting on Monday to maintain its total oil production at 28 million barrels per day.

TNA

Nice to see the prices coming down for a change instead of the other way round.

Unfortunately here in the UK tax takes a massive chunk out of the price we have to pay, currently around 93 pence per litre, around £4 a gallon. :x

Government to go ahead with energy-saving drive

BANGKOK, Sept 14 (TNA) - Energy Minister Viset Choopiban on Wednesday reiterated that national energy conservation campaigns would be continually implemented despite a sharp drop in global oil prices recently, as the current fuel price level on the domestic market remains relatively high.

He said the Energy Ministry has a policy to allow local fuel prices to move in the same direction with global oil prices.

It is good for now that both local gasoline and diesel prices have declined.

In particular, the gasoline prices have dropped for eight times in a row by 3.80 baht per liter altogether and the diesel price has edged down by 1.30 baht per liter in the past 3-4 weeks.

However, he said, although the local fuel prices had dropped, the national energy saving drive should go ahead since the current price level is still as high as that of January.

Commenting on the Supreme Administrative Court's recent decision to accept a petition against the PTT listing status, Mr. Viset conceded it had affected stock prices, particularly those of PTT business groups.

What PTT could do now is to clarify the matter to boost investor confidence, he suggested.

In his personal view, he said, the stock price movement is dynamic and the prices can normally move up and down.

TNA

PTT to reduce diesel oil price by 50 satang

The PTT Plc will Thursday reduce its retail diesel oil price by 50 satang to Bt23.74.

It announced Wednesday that the prices of Octane 91 and 95 oil will remain unchanged.

The Nation