ID :
180866
Mon, 05/09/2011 - 13:09
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Shortlink :
http://m.oananews.org//node/180866
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Thailand's state-controlled oil traders cut gasoline prices
BANGKOK, May 9 (TNA) - Thai Energy Minister Wannarat Channukul announced on Monday that he has liaised with two state-controlled oil traders, PTT Public Company Limited (PTT) and Bangchak Petroleum Public Company Limited (Bangchak), to cut their retail gasoline, more specifically benzene, prices by 40-50 satang per litre, effectively from Tuesday morning.
Dr. Wannarat said that the cooperation manifested after the two companies' marketing margin from their gasoline trade, the difference between their wholesale and retail prices, rose to 1.70-1.80 baht per litre, where it now stands.
Dr. Wannarat revealed that he will also discuss with local oil traders whether or not they can cut their retail prices of benzene 95 to a certain extent, from 49.54 baht per litre now, by lowering their marketing margin of the premier gasoline fuel product, from the current 6.12 baht per litre.
Oil prices in Singapore have, however, increased by about two US dollars a barrel, compared with their closing prices on May 6, with those of Dubai crude oil, diesel and gasoline now standing at 101.25 US dollars, 120.88 US dollars and 123.37 US dollars a barrel respectively.
Meanwhile, a Thai government panel in charge of energy policy management, chaired by the Thai energy minister, resolved that local diesel traders would now be required to contribute 1.0645 baht per litre more to the state oil fund, making the total 1.40 baht per litre as of Tuesday. This is expected to boost liquidity of the now 725-million-baht state oil fund, with its contracted liquidity of 27.8 million baht a day, as some 31.6 million baht will then additionally flow into the state oil fund daily. (TNA)
Dr. Wannarat said that the cooperation manifested after the two companies' marketing margin from their gasoline trade, the difference between their wholesale and retail prices, rose to 1.70-1.80 baht per litre, where it now stands.
Dr. Wannarat revealed that he will also discuss with local oil traders whether or not they can cut their retail prices of benzene 95 to a certain extent, from 49.54 baht per litre now, by lowering their marketing margin of the premier gasoline fuel product, from the current 6.12 baht per litre.
Oil prices in Singapore have, however, increased by about two US dollars a barrel, compared with their closing prices on May 6, with those of Dubai crude oil, diesel and gasoline now standing at 101.25 US dollars, 120.88 US dollars and 123.37 US dollars a barrel respectively.
Meanwhile, a Thai government panel in charge of energy policy management, chaired by the Thai energy minister, resolved that local diesel traders would now be required to contribute 1.0645 baht per litre more to the state oil fund, making the total 1.40 baht per litre as of Tuesday. This is expected to boost liquidity of the now 725-million-baht state oil fund, with its contracted liquidity of 27.8 million baht a day, as some 31.6 million baht will then additionally flow into the state oil fund daily. (TNA)
