Bangchak to retain oil price this week

BANGKOK, 6 May 2010 (NNT) – Bangchak Petroleum Plc will maintain the retail oil price this week to observe the situation in the global market.

Bangchak Petroleum President, Dr Anusorn Sangnimnuan, insisted that the company would not adjust the oil price within this week. The price in the global market is falling due to the economic crisis in Europe, lowering the oil demand in the region and placing the marketing margin of diesel at a little over 1 THB/liter.

Dr Anusorn believed the oil price would not exceed 90 USD per barrel this year. He added that the economic situation in Europe and the US must be monitored closely.

The oil marketing margin stood at 6 USD per barrel in the first quarter of this year and is expected to drop to 5 USD in the second quarter.

Today’s retail oil prices in Thailand settled at 33.84 THB/liter for gasohol 95, 37.64 THB/liter for benzene 91, and 29.89 THB/liter for diesel.