Retailers cut petrol prices on Saturday

PTT Plc, Shell and Esso will slash its retail petrol and gasohol prices by 50 satang per litre, effective on Saturday, attributing the action to the recent declines in oil prices.

Chaivat Churitti, senior executive vice president of PTT, said that as of Friday, Dubai crude oil stays at US$94 per barrel, on worries of US economy which encouraged sell-offs in the oil futures market. While the US oil reserves stayed at the high level and Cilacap refinery in Indonesia also resumed operations after temporary shutdown, refined petrol drops to $104.26 a barrel.

After the change, octane-95 petrol will be Bt34.09 per litre while gasohol 95 will be Bt30.09, octane-91 petrol at Bt32.99 and gasohol 91 at Bt32.99.

However, PTT's diesel price remains unchanged at Bt30.94, 50 satang cheaper than other retailers. Shell and Esso announced on Friday that it would cut diesel prices to match PTT's.

"We can't lower diesel price as PTT still shoulders losses," Chaivat said, citing that oil prices remain highly volatile and thus consumers need to be vigilant in oil consumption.

PTT has so far shouldered Bt1 billion in losses from retail oil business, due to delays in price increases to catch up with actual costs.

- The Nation

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Retailers cut petrol prices on Saturday

PTT Plc, Shell and Esso will slash its retail petrol and gasohol prices by 50 satang per litre, effective on Saturday, attributing the action to the recent declines in oil prices.

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