18% Petrol Increase from Jan 1st util today

[rexpotter]

So whats the deal? This always gets passed on to the little guy. Takes a bit of time, but if it continues expect everything you buy to cost 18% more.

[Trippy]

What's your source for this info?

[transam]

Where's your story link......?  🤔

[Photoguy21]

If that is the case then they are expecting the price of crude to increase within 3 months because that is how crude is sold i.e. on a 3 month forward look.

[rexpotter]

9 minutes ago, Trippy said:

What's your source for this info?

The gas station. motorist.co.th

[rexpotter]

1 minute ago, rexpotter said:

The gas station. motorist.co.th

 

[KannikaP]

Diesel's been the same for months, although the new PM promised it would go below what it is now.

[Crossy]

32 minutes ago, rexpotter said:

Takes a bit of time, but if it continues expect everything you buy to cost 18% more.

 

Most commercial transport uses diesel which is pegged to < 30Baht per litre.

[Trippy]

13 minutes ago, Photoguy21 said:

If that is the case then they are expecting the price of crude to increase within 3 months because that is how crude is sold i.e. on a 3 month forward look.

According to the title the increase ends today.

 

18% Petrol Increase from Jan 1st util today

[Photoguy21]

1 minute ago, Trippy said:

According to the title the increase ends today.

 

18% Petrol Increase from Jan 1st util today

Probably because the price of crude has gone down. This price would have been agreed in the beginning of January. The Oil & Gas industry works on the pricing of a 3 month advance period.

[Liverpool Lou]

48 minutes ago, rexpotter said:

So whats the deal? This always gets passed on to the little guy. Takes a bit of time, but if it continues expect everything you buy to cost 18% more.

Seems to be 14%, not 18% and then only if you select the extremes of the graph rather than a period of time, eg. it's only 4.5% up from October '23 to date. 

Edited April 5 by Liverpool Lou

[Trippy]

4 minutes ago, Photoguy21 said:

Probably because the price of crude has gone down. This price would have been agreed in the beginning of January. The Oil & Gas industry works on the pricing of a 3 month advance period.

Crude is way up, 86.80 usd today. 

 

https://oilprice.com/

[Ralf001]

52 minutes ago, rexpotter said:

 but if it continues expect everything you buy to cost 18% more.

Why ?

[KannikaP]

38 minutes ago, Crossy said:

 

Most commercial transport uses diesel which is pegged to < 30Baht per litre.

Oh no it ain't. Bht 30.37 in my neck of the woods. 30.84 at Shell.

Premium diesel, whatever that is, 44.84. Will my Vigo go faster on it? 555

Edited April 5 by KannikaP

[PoorSucker]

Have not noticed, I always fill up with 120baht

[Celsius]

Carbon Tax

[KhunBENQ]

1 hour ago, Crossy said:

 

Most commercial transport uses diesel which is pegged to < 30Baht per litre.

Price ceiling was lifted effective April 2.

100 billion Baht have been burned for that since September.

So far not much impact (except Shell with +0.5).

Maybe due to the promise of PTT that prices during Songkran won't rise.

 

(most info from The Nation)

 

It's naive to assume that Thai fuel prices follow simple market mechanisms/oil price.

It's a complicated system (oil fund) and politically driven.

One effect is the stable Diesel price and high flying 95 gasohol.

91 promoted to be significantly cheaper than 95.

Edited April 5 by KhunBENQ

[KhunBENQ]

18% fuel price increase leading to 18% increase of "everything".

Hard to believe what economic geniuses are posting here,

[Crossy]

6 minutes ago, KhunBENQ said:

Price ceiling was lifted effective April 2.

100 billion Baht have been burned for that since September.

So far not much impact (except Shell with +0.5).

Maybe due to the promise of PTT that prices during Songkran won't rise.

 

(most info from The Nation)

 

It's naive to assume that Thai fuel prices follow simple market mechanisms/oil price.

It's a complicated system (oil fund) and politically driven.

One effect stable Diesel prices and high flying 95 gasohol.

 

That EV is looking even more attractive

[bradiston]

Bangchak's website has a lot of info. Current prices and historical. 91 was 32.98 on Jan 4th. Today, 38.48. So 5.5 THB rise. 16.5% rise.

 

https://www.bangchak.co.th/en/oilprice/historical

Edited April 6 by bradiston

[rexpotter]

Anyways it cost me 1400 baht instead of the usual 1200baht a few days ago for my Toyota.

[TheFishman1]

I remember when 85 gas hall was at 22Bht  liter TIT 

[charleskerins]

17 hours ago, rexpotter said:

So whats the deal? This always gets passed on to the little guy. Takes a bit of time, but if it continues expect everything you buy to cost 18% more.

It's Biden's fault

[Celsius]

16 hours ago, PoorSucker said:

Have not noticed, I always fill up with 120baht

 

eee yeesip temtang

[KhunBENQ]

1 hour ago, TheFishman1 said:

I remember when 85 gas hall was at 22Bht  liter TIT 

I am so glad that I could resist to have an E85 adapter installed when the price was 18 Baht.

(car is specified for E20)

Edited April 6 by KhunBENQ

[rexpotter]

17 hours ago, Ralf001 said:

Why ?

Please forgive me, that's not correct. I must have been enjoying a few beers. All I know is I have 200 baht less this month.

[NoshowJones]

20 hours ago, Ralf001 said:

Why ?

Greed!

[Photoguy21]

On 4/5/2024 at 2:34 PM, Trippy said:

Crude is way up, 86.80 usd today. 

 

https://oilprice.com/

It has been over US$80 for a while it isnt way up but it is up.