Oil prices up 80 satang at midnight

The Oil Fund now shoulders some subsidies to fuel products, as their prices have not yet been raised to fully match the resumption in excise taxes.

It was reported that oil retailers experienced an increase in marketing margins due to the recent decline in global crude prices. The Energy Policy and Planning Office reported that as of yesterday, the margin for 91octane petrol was at Bt2.11, 95octane at Bt6.72, gasohol 95 at Bt2.63, gasohol 91 at Bt2.67, gasohol E20 at Bt3.55, gasohol E85 at Bt2.96, diesel B2 at Bt2.27 and diesel B5 at Bt2.77.

A source in the retail oil industry said that though the margins were above the generallyaccepted level of Bt1.50 per litre on average, retailers yesterday did not lower their pump prices as once the Oil Fund's contribution is raised, the margins would drop automatically.