Shell leads in raising pump prices
Two days after the historical single-day increase in crude oil prices, Shell leads in raising pump prices, effective on Thursday.
All products would charge 60 satang per litre higher, bringing octane-95 petrol to Bt38.19 per litre and diesel B5 to Bt30.64.
All products would charge 60 satang per litre higher, bringing octane-95 petrol to Bt38.19 per litre and diesel B5 to Bt30.64.
On Monday, the October crude futures contract on the New York Mercantile Exchange rose $16.37, or 16 per cent, to expire at $120.92 a barrel. It touched $130 in intraday trading.
Thirapot Vajrabhaya, chairman of Shell Company of Thailand, said on Tuesday that oil prices tended to rise this week.
"They are highly volatile partly because the US financial bailout package could not win investor confidence and there is expectation of further weakening of US dollar. Funds thus shift investment to the commodity market," he said.
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