Pump prices rise on Ukraine tensions

business March 04, 2014 00:00

By The Nation

PTT and Bangchak Petroleum are raising pump prices of petrol and gasohol products by 50 satang per litre tomorrow.



 
 
Diesel price is maintained.
After the increase, the 95-octane petrol will be retailed at Bt48.55 per litre.
Tensions in Ukraine have boosted oil prices in the past three days.
Yesterday, West Texas Intermediate and Brent crudes contract rose 2.3 per cent to $104.92, the highest close since September 19. Today, it dropped from the highest price amid speculation that heightened tension between Russia and Ukraine is unlikely to result in a disruption to oil supplies. Russian President Vladimir Putin ordered troops back to bases from military exercises in the Leningrad region, Interfax newswire reported, citing Kremlin spokesman Dmitry Peskov.
Kuwait also plans to raise its oil production capacity by 150,000 barrels per day to 3.4 million bpd by mid-2015, AFP reported.