Retail oil prices fall on Mother's Day

By The Nation

PTT will lead oil retailers to cut petrol and diesel by 50 satang and 80 satang per litre, respectively, effective on Tuesday when Thailand is celebrating the national Mother's Day.

Premium gasohol 95 would at PTT stations would then be Bt29.39 and diesel B5 would be Bt33.54. Since July, this marks the 14th decrease in petrol and diesel prices, which have dropped cumulatively Bt9.80 and Bt10.20, respectively.

PTT President and CEO Prasert Bunsumpun attributed the price decrease to the sharpest appreciation of US dollar in the 5-month period, amid concerns on the European Union's economic conditions. Dubai crude oil on Monday eased to US$114.18 per barrel while refined premium petrol in Singapore fell to $116.43 and diesel at $133.60.

Yet, he noted that risk factors remain, including the economic conditions in the US and Europe, as well as conflicts in oil-producing countries. Meanwhile, the US is still in the middle of the hurricane season. He urged motorists to cut down their consumption.

Oil analysts expected oil prices to renew the increase soon, given that consumption is still rising.

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Retail oil prices fall on Mother's Day

PTT will lead oil retailers to cut petrol and diesel by 50 satang and 80 satang per litre, respectively, effective on Tuesday when Thailand is celebrating the national Mother's Day.

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