Weaker demand eases oil prices

By The Nation

PTT President and CEO Prasert Bunsumpun attributed the latest cut in retail oil prices to the weaker global prices, as Dubai crude oil today stays at US$117.45 a barrel.

Global oil prices weakened due to slight damage from a tropical storm in the United States, sell-offs by hedge funds, and lower demand in in China which limits the number of cars on street during the Olympic Games.

Refined petrol today stays at $118.02 a barrel and refined diesel at $139.45.

Thai oil retailers today cut petrol pump price by 50 satang per litre and diesel by Bt1 per litre, marking the 12th price cut since July. At PTT stations, gasohol 95 now costs Bt29.99 per litre, diesel B5 at Bt35.14.

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Weaker demand eases oil prices

PTT President and CEO Prasert Bunsumpun attributed the latest cut in retail oil prices to the weaker global prices, as Dubai crude oil today stays at US$117.45 a barrel.

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