PTT raises retail oil prices on Thurs

 Executive Vice President Withaya Wangchitrarak said that during the holiday period, PTT cut the retail prices to promote domestic travelling. However, global oil prices have resumed the volatility, with Dubai crude oil rising to US$48.48 per barrel on Wednesday. The refined petrol also rose to $50.33 per barrel in Singapore, up $11.74 from New Year, while refined diesel was $64.81, up $10.12.

 He noted that keeping the retail prices at the pre-New Year level, PTT saw its average marketing margin minus 16 satang per litre.

 As violence in the Gaza Strip grows, Withaya said oil prices could become more volatile in the short term.