oil increase 50 satang/liter

BANGKOK, 27 July 2009 (NNT) – Domestic oil retailers will increase oil prices by another 50 Satang per liter in the next few days after the marketing margin was reduced to 50 Satang per liter.

The price of West Texas Intermediate Crude on 24 July 2009 rose by 0.89 USD barrel to close at 68.05 USD barrel as investors were more confident in the US economy, resulting in higher demand for gasoline. Thailand’s reference oil prices quoted in the Singapore market have dramatically risen by an average of 1.80 USD per barrel to close at 67.40 USD per barrel. Benzene price has hiked by 2.50 USD per barrel to close at 77.67 USD per barrel while diesel price has increased by 3.25 USD per barrel to close at 75.51 USD per barrel.

The domestic retail oil prices were last raised on 23 July 2009.