Dubai crude oil today rises to US$78.10 per barrel, buoyed by the improvement in US economic indicators, which forces Thai oil retailers to jack up retail oil prices by 50 satang per litre tomorrow.
The US revised up the fourth-quarter gross domestic product from 5.7 per cent to 5.9 per cent, while the unemployment in February stabilised at 9.7 per cent. The employment trend index also rose 0.3 points from the previous month to 93.5 points in February.
Oil prices also head up due to clearer signs to address the financial crisis in Greece. As Euro appreciates against the US dollar, investors have returned to the commodity market.
Refined petrol price in Singapore today is at $93.23 a barrel while refined diesel at $88.27.
