Oil prices to decrease by 50 Satang/liter

BANGKOK, 11 December 2009 (NNT) – Domestic oil retailers will reduce oil prices by 50 Satang per liter in every product, except E85, from 12 December onwards following the global crude oil price decrease.

Witthaya Wangchittrarak, the assistant president for retail marketing of PTT’s oil business, stated that the oil prices were adjusted in line with the reduction of crude oil price in the world market mainly due to the appreciation of the US currency compared with the euro. The strong US dollar has been reportedly caused by concerns over Greek and Spanish economies.

Nevertheless, Mr Witthaya said fuel prices in the Asian market would not dwindle as much as those in the European and US markets. He reasoned that oil prices in Asian countries were unlikely to drop due to strong economies of China and India.

Retail oil prices in Bangkok and vicinities will be as follows:

Benzene 91 will be sold at 30.84 THB per liter.

Gasohol 95 will stand at 31.24 THB and Gasohol 91 at 30.44 THB per liter.

E20 will be 28.94 THB and E85 18.72 THB per liter.

Biodiesel B2 will stand at 27.69 THB per liter while B5 at 26.29 THB per liter.