Retailers cut fuel prices by 60 satang

 Octane-91 petrol will cost Bt35.19 a litre while diesel B5 at Bt30.04. Gasohol 95 would be Bt27.69 and gasohol 91 at Bt26.89.

 On Thursday, Democrat Party Leader Abhisit Vejjajiva urged the government to monitor pump prices, citing that the crude oil is now falling to the February level at about US$90 a barrel, down about 30 per cent from its peak in July. However, pump prices are about Bt3-Bt5 per litre higher than the February levels.

 A source in the oil industry noted that traders would not cut pump prices below 60 satang, given that a decision is based on the 3-day average price. Retailers now expect the marketing margin to narrow as crude oil in the US and UK suddenly jumped on Wednesday by $6.01, or 6.6 per cent, to $97.16 a barrel, the biggest one-day gain since June 6.

 Bloomberg news agency reported that oil for October delivery on Thursday fell as much as $1.43, or 1.5 per cent, to $95.73 a barrel on the New York Mercantile Exchange. It was trading at $96.05 at 2:58 p.m. in Singapore. It earlier rose as much as 98 cents, or 1 per cent, to $98.14 a barrel.