Tue, May 5, 2009 : Last updated 10:29 hours
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Oil prices cut on flu outbreak
Oil retailers will cut prices of all petrol products except E85 by 50 satang per litre on Wednesday, following the drop in global prices on fears of the Mexican flu outbreak.
The outbreak is believed to reduce demand particularly on jet fuel, as tourists will avoid making trips.
Thai Oil in its oil monitor report said that in 2008, the World Bank estimated that a flu outbreak could cause US$3 trillion in global economic damage and could further dampen the global economic growth by 5 percentage points.
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