Diesel drops 60 on Tuesday

By The Nation

Oil retailers will slash diesel by 60 satang per litre on Tuesday, following the recent drop in refined diesel price to US$126.70 a barrel on Monday.

Since July, diesel has dropped for a combined value of Bt11.40 per litre.

At PTT, diesel B5 costs Bt32.34 a litre.

Last week, West Texas crude oil for September delivery ended at $113.77 a barrel, about 20 per cent from its July peak of $147.

Analysts attributed the drop to the continued appreciation of US dollar, which reduced the attraction of commodity futures particularly crude oil. On Friday, the greenback strengthened 1.46 per euro. Markets also reacted to the forecast that oil consumption this year would drop 30,000 a barrel per day to 1 million barrels, and there is a tendency that China's oil demand would drop after the end of the Beijing Games.

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Diesel drops 60 on Tuesday

Oil retailers will slash diesel by 60 satang per litre on Tuesday, following the recent drop in refined diesel price to US$126.70 a barrel on Monday.

OTHER BUSINESS

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