PTT denies monopolizing oil sector

[webfact]

PTT denies monopolizing oil sector

 

FILE photo

 

BANGKOK, 30th May 2018 (NNT) - PTT Plc Co Ltd is set to take legal action against those accusing the company of causing higher fuel prices. 

PTT Senior Executive Vice President-General Counsel Peangpanor Boonklum said PTT will file a lawsuit against individuals who have accused the company on social media of secretly raising gas prices and monopolizing the oil industry. 

PTT has however, denied all allegations. Peangpanor said today such unfounded claims had tarnished the reputation of the company and its executives. The legal team is currently looking into the matter and will file both civil and criminal lawsuits against those responsible for false accusations. 

The Senior Executive Vice President-General Counsel today cited the need to resort to legal action as a certain group of individuals has continued to defame the company.

 

-- nnt 2018-05-30

[peperobi]

Behind every story is a piece of true...

[thaiguzzi]

19 hours ago, webfact said:

and monopolizing the oil industry. 

They are.

Far and away the biggest fuel company in Thailand.

Their petrol stations are everywhere, and when they build a new one, generally the smaller local ones are run out of town.

[PhonThong]

Boo hoo PTT. Cry me a river.  You are monopolizing and you know it.  This protection of deformation is going too far.

[connda]

My wife doesn't care if it's the 'truth' of not - we're now boycotting PTT.  Personally I don't have a dog in this fight as I think the oil industry as a whole are a bunch of blood suckers.  Oil prices go up, retail gas prices sky-rocket; Oil prices go down, retail gas prices creep down like cold molasses.  So the executives of PTT, instead of looking for someone to sue, should focus on competitive prices.  Nothing like a good price war to benefit the consumers.  They should be happy that they have this wonderful opportunity to show the public their immense good-will. 
And if their prices become significantly better than the competition, then I don't care what the Mrs thinks, I'll buy their gas. Until then - sayonara PTT. 

[toolpush]

I have always boycotted PTT as I am against supporting any Government owned entity. There lies the Road to Serfdom.....

[Srikcir]

20 hours ago, webfact said:

PTT Plc Co Ltd is set to take legal action against those accusing the company of causing higher fuel prices. 

A state-owned company needs to use defamation laws to defend itself.

Not surprising that this government is adverse to simply counter with proof that it isn't causing higher fuel prices. Maybe such proof is nebulous at best and lacking at worst. In which case defamation doesn't require proof.

As a state-owned company, why doesn't the government have a responsibility to EXPLAIN higher fuel prices to its citizens who in part capitalize the company through their taxes? Taking legal action to deter alleged misrepresentations is a sign of government abuse of power. 

 

[jossthaifarang]

1 hour ago, connda said:

My wife doesn't care if it's the 'truth' of not - we're now boycotting PTT.  Personally I don't have a dog in this fight as I think the oil industry as a whole are a bunch of blood suckers.  Oil prices go up, retail gas prices sky-rocket; Oil prices go down, retail gas prices creep down like cold molasses.  So the executives of PTT, instead of looking for someone to sue, should focus on competitive prices.  Nothing like a good price war to benefit the consumers.  They should be happy that they have this wonderful opportunity to show the public their immense good-will. 
And if their prices become significantly better than the competition, then I don't care what the Mrs thinks, I'll buy their gas. Until then - sayonara PTT. 

Careful mate, there's lawsuits going round.. ?

[thaichiro]

The problem is lack of competition. The government sets the petrol prices, no doubt after special consultations, and doesn’t allow price competition. The fix is in!!

[jossthaifarang]

Boycotting will never work anyway, any attempt is futile.

 

First, there will always be some percentage of people on the road who are running out of gas and must fill up, based on the shear number of PTT gas stations chances are the nearest most convenient one will be the PTT. 

 

Second, there are that many companies across Thailand who supply their employees with fuel allowances, most of those come in the form of a PTT fuel card. (Yes I have one).

 

This already brings the number up to at lease 50% of the population or more on any given day filling up at PTT, which would amount to the same amount if not more than all other fuel suppliers in Thailand combined, due to the much larger total amount of gas stations. 

 

Any excess fuel is just kept in their vast array of storage tanks until the Thai population realizes the boycott is not working (Probably around a month). During that month PTT will still refine and store as much fuel as their Refineries capacity allows for just storing any excess in tanks.

 

Seriously, you would need to boycott them for at least 6 months to a year before they even began to feel it. 

 

This is just what common sense tells me, and NO I don't work for PTT, I just know how to count and think rationally. 

 

I know I'm probably going top get slammed for stating the obvious here, but I'm quite sure there are still a few people left on here who would agree, and have not yet completely eradicated all their brain cells sitting on a bar stool all day.. 

 

[Cadbury]

37 minutes ago, thaichiro said:

The problem is lack of competition. The government sets the petrol prices, no doubt after special consultations, and doesn’t allow price competition. The fix is in!!

Therein lies the problem. Too many politicians and government officials in the pockets of PTT. Similar to most other Thai businesses in the top end of town. Tobacco and beer companies for example. 

They are not in business to make just profits; they are in business to make mega profits with the help of those who receive "benefits" along the way. 

[VocalNeal]

1 hour ago, Srikcir said:

its citizens who in part capitalize the company through their taxes?

 

What taxes? The majority of the population don't pay any!  Next time you but something cash ask for a VAT receipt? They will say yes and add 7% 

[VocalNeal]

1 hour ago, toolpush said:

I am against supporting any Government owned entity. There lies the Road to Serfdom.....

A conservative, so about as capitalist as one can get, UK government are going to re-nationalize a private rail company because it cannot provide service. 

 

You wouldn't get far In Canada with your personal agenda as you couldn't drink beer or liquor!

[Redline]

Grow up!