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 At their stations, diesel B5 (with the content of biodiesel of 5 per cent) costs Bt31.14.

 This is the 18th price cut in a row for the fuel since July, when the combined price cut is Bt12.60.

 "Yet, all are encouraged to save energy, as there are risk factors that could lead to a spike in oil prices, particularly the weather conditions which could affect the US inventory as well as violence in oil-producing countries," said PTT President and CEO Prasert Bunsumpun.

 Dubai crude oil on Thursday stayed at US$97.60 per barrel, while refined diesel price falls to $117.39. Oil prices have weakened continually due to the global economic slowdown and appreciation of US dollar against major currencies. The US dollar on Wednesday strengthened to the 11-month high against Euro, as the European Commission cuts the the zone's economic growth forecast for 2008 from 1.7 per cent to 1.3 per cent.

 Pulling down the oil prices was also the lower demand from the US, following the shutdown of several refineries last week when Gustav Hurricane hit the shore.

 There is also a forecast that oil consumption in 2008 and 2009 would drop 100,000 and 40,000 barrels per day, respectively, to 690,000 and 890,000 barrels per day, respectively.