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Helping delay price hikes in the domestic market, PTT said it has raked up over Bt1.6 billion in retail oil business loss.

 Chaivat Churitti, senior executive vice president, said as oil prices are rising, marketing margin for service stations are only 8 satang per litre on average, meaning that PTT needs to shoulder a loss of Bt1.42 per litre or about Bt30 million a day.

 On Monday, Dubai crude oil stood at US$98.23 per barrel, up $4.23 a barrel from last Friday. Meanwhile refined petrol costs $112.97 a barrel and refined diesel at $131.94.

 Light, sweet crude for May delivery dropped 32 cents to US$105.30 a barrel in Asian electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell US$1.96 to settle at US$105.62 a barrel Friday.

 Retail prices would be raised 50 satang per litre, bringing octane-95 petrol to Bt34.59 a litre, which match the price at Shell, Petronas and IRPC which was raised on Friday. Diesel will be Bt31.44 per litre.

- The Nation