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Wannarat said yesterday that local oil firms now had an unusually high marketing margin, especially from the price of 95-octane petrol, which has a margin of Bt5 a litre, while other oil products have margins in the range of Bt2 to Bt5 a litre.

"I have assigned the Energy Policy and Planning Office, PTT and Bangchak to look at the marketing margin. It should not exceed Bt2 per litre," he said.

PTT president and CEO Prasert Bunsumpun, meanwhile, clarified that the high marketing margin was only in Bangkok and nearby provinces, and not nationwide. The margin in the provinces is lower than in the Central part of the country because transport costs are higher. Also, the Bt5-marketing margin on 95-octane petrol is not applicable to PTT because it has already stopped distributing the fuel.

However, Prasert acknowledged that the marketing margin was higher than before because of the plunge in global oil prices. PTT has reduced retail prices to reflect the situation. He said the company would reduce prices further this week and the marketing margin would return to Bt1.50 per litre, as before.

Meanwhile, Wannarat said he would focus on five policies:

lCreating energy security

lOverseeing appropriate energy prices

lSupporting alternative-fuel research and development

lUrging people to save energy

lTackling environmental issues arising out of the energy production business

He will also propose a new pricing structure for liquefied petroleum gas (LPG) to the National Energy Policy Council.

He suggested two prices for LPG: one for household users, which will not be adjusted until the six cost-of-living measures end in January, and another price for LPG used by vehicles and industries, which will continue to reflect global gas prices.

The minister ordered officials to prevent LPG smuggling along the country's borders.

He said LPG consumption was continuing to increase and that the ministry must act to prevent shortages.