PTT witholds hike of diesel price

  Chaiwat Chooritti, senior executive vice president of PTT, noted that if global oil prices keep escalating, the company could consider raise retail prices next week.

  On Tuesday, oil futures in New York made a new record high at US$88.20 a barrel, before closing at $87.61. Dubai crude oil also touched $78.34. Finished diesel cost $96.04 and analysts expect it to touch $100 a barrel soon. While fluctuations in oil prices attract hedge funds, all parties now hope that the Organisation of Petroleum Exporting Countries (Opec) would increase outputs to ease the price situation at the November meeting.

 Diesel price is maintained at Bt27.34 a litre, while gasoline prices are raised 40 satang a litre today.

 High diesel prices have forced private bus operators to raise their fares on October 15 and truck operators will raise their freight rates on November 1. Consumer product manufacturers will meet at the Commerce Ministry at 4pm today, for a discussion on their actual costs amid high oil prices.

- The Nation