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Oil prices cut

All retailers will lower their pump prices 40 satang a litre today after recent reductions in global oil prices.

Published on January 17, 2008

After the cut, premium petrol will sell for Bt33.29 a litre, gasohol 95 for Bt29.29 and diesel for Bt29.34.

PTT senior executive vice president Chaivat Churitti yesterday said global oil prices have fluctuated widely - up or down by US$2 to $3 (Bt66 to Bt99) per barrel.

"Amid the volatility, oil retailers must shoulder huge losses. PTT lost Bt4.5 billion last year and so far this year.

"The deficit is about Bt200 million, due to the low marketing margin of about 70 satang per litre [though the appropriate level should be Bt1.50]," he said.

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Oil prices cut

All retailers will lower their pump prices 40 satang a litre today after recent reductions in global oil prices.

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