Benzene May Hit 45 Baht Per Liter & Diesel Could Hit 38 Baht Per Liter In The Next Few Days

[ovenman]

Saw diesel being sold today for 44.99 baht/litre at both Shell and Esso stations in Chiang Mai.

[LaoPo]

Oil will be $200 a barrel by xmas

you saw it here first...

I'm sure your mother told you NOT to steal....

March 7, 2008:

http://www.marketwatch.com/news/story/gold...630F12F2C764%7D

But, apart from that, oil will not reach the $ 200/barrel line by Xmas '08; you are the first to read it here

LaoPo

Edited July 4, 2008 by LaoPo

[sriracha john]

Saw diesel being sold today for 44.99 baht/litre at both Shell and Esso stations in Chiang Mai.

I dare say that if you go check Shell's price there today... that it's over 45 baht a liter in Chiang Mai..

Shell raising oil prices while PTT fixing them

The Shell Company of Thailand Limited has again raised its retail diesel price by another 60 satang per liter this morning (July 5th). However, the retail diesel price of PTT Public Company Limited is still lower than other oil distributors in Thailand by 1.40 baht a liter.

The Energy Policy and Planning Office (EPPO) reports that Shell has increased its retail price of diesel to 44.84 baht a liter since 5 AM today, and the recent oil price adjustment has now rose to a new high.

Meanwhile, PTT continues to peg its retail diesel and benzene prices. The company's retail benzene prices are lower than other oil distributors by 60 satang per liter. However, all sectors are expecting that PTT may follow its competitors by raising its retail oil prices tomorrow.

- ThaiNews / 05-07-08

[PeaceBlondie]

On the topic of crude oil being denominated in dollars, imports to Thailand seem to be getting a double whammy. The crude price in dollars is skyrocketing, and so far this year the dollar has appreciated against the baht by 13%. Unless I am confused.

[timekeeper]

Oil will be $200 a barrel by xmas

you saw it here first...

I'm sure your mother told you NOT to steal....

March 7, 2008:

http://www.marketwatch.com/news/story/gold...630F12F2C764%7D

But, apart from that, oil will not reach the $ 200/barrel line by Xmas '08; you are the first to read it here

LaoPo

i am not interested enough to read that article, (nor now) never mind stolen from it but i will have a 500baht bet with you it is over $200 by xmas.

the neocons want it that way and unless there is a revolution/civil war in the USA, it will be.

see you back here in 5 months to collect my money

[highdiver]

Thailand does not control the price of food and Saudis are not buying anything from Thais either.

I have no idea why Highdiver decided to pick up on Saudis, Thais should be really ashamed of what they did to them.

not just the Saudis but all the oil producers in the gulf that control oil prices.

Last year Saudi Arabia imported 960,000 tonnes of rice, making it the world's sixth biggest rice importer, Around 70 percent of the kingdom's rice imports were basmati rice from India , while Thai rice accounted for 30%.

now that India is cutting them off as they need to feed 1.2 billion people the Saudis and even the UAE are investing in thai rice farms to secure the rice they need

the Saudis are the worlds biggest exporter of oil but they are limited on food. someone should explain to them that they will need to pay very expensive for food unless they drop the oil prices.

[ovenman]

Saw diesel being sold today for 44.99 baht/litre at both Shell and Esso stations in Chiang Mai.

I dare say that if you go check Shell's price there today... that it's over 45 baht a liter in Chiang Mai..

Not every station that I surveyed while at lunch had increased their diesel price from the last increase. Jet seems to be the lowest at 44.19 baht/litre. Caltex was holding steady at 44.79 baht/litre. Petronas, Shell and Esso were up to 45.59 baht/litre for their diesel! Since Jet is now owned/operated by PTT, that would seem to confirm what was written in the article you quoted regarding PTT being 1.40 baht/litre less than other retailers.

[sriracha john]

Energy Minister and wife of Banned TRT Party Executive Suwat Liptapanlop, Poonpirom Liptapanlop

50 baht a liter not far off

Local retail fuel prices may soon top 50 baht a liter as world oil prices continue to rise on the weakening US dollar, supply tightness, and political tensions in oil exporting regions, Energy Minister Poonpirom Liptapanlop warned yesterday. Apart from those reasons, oil consumption was still growing strongly, driven by demand in the emerging Asian economies, so it was not possible for oil prices to drop back below $70 a barrel, she said. With oil prices soaring, subsidising fuel costs that have reached 45 baht a liter in Thailand has become a huge financial burden. Some other countries have abandoned or scaled back assistance sharply. Locally, the National Energy Policy Council is expected to decide soon whether to extend the current diesel subsidy of 90 satang a liter. The Energy Ministry initiated the subsidy by cutting the levy contribution to the state Oil Fund and Energy Conservation Fund in March. The scheme is scheduled to expire this month, but as with other subsidies, the government wants to prolong the period.

Continued here:

http://www.bangkokpost.net/080708_Business...l2008_biz33.php

Edited July 8, 2008 by sriracha john

[slapout]

She probably has the background and experience to be making all of these eye opening statements about the dollar weakening??? supply tightness??? and political tensions in exporting countries, ??? Does this family have another member who can provide their expertise to point out the other problems around the world.

[slapout]

Guess with everyone out changing prices at the pump, they have not noted that oil has dropped 8 dollar/bbl over the past few days. Keep thinking upward seems to be the mindset of the present govt. They might want to look where they are going so they don't step in the dog deposits.

[Bluelotus]

2600 baht to fill the tank today @ 44.99 per liter diesel , dusting off the the Dream today

[marquess]

I noticed that Oil prices have come down to $136 from $145 this week, are there any plans to reduce the price of petrol in Thailand? Or is it a matter of what goes up does not come down?

Edited August 1, 2008 by Maestro

[cclub75]

I noticed that Oil prices have come down to $136 from $145 this week, are there any plans to reduce the price of petrol in Thailand? Or is it a matter of what goes up does not come down?

First... oil jumped to a new record on friday (147 USD)... Then PTT is doing whatever it can to "stick" to the world prices.

Up and down.

Look at their officials prices, with the effective date. It's like a yo-yo ! They can change prices overnight.

http://www.pttplc.com/en/nc_oi.aspx

It's just too sensitive. The gvt pushes PTT to hold maximum any price hike... and to apply cut immediatly.

They are loosing money, every day.

Therefore the forecast is very easy : they cut (foolishly) on friday, for a "week end feel good effect"... They will have to increase on monday or tuesday.

Soon, it will be like in Germany in the 20s... Prices will change... every 15 minutes.

[sriracha john]

Soon, it will be like in Germany in the 20s... Prices will change... every 15 minutes.

I do seem to have noticed more stations that don't post their current prices on the big roadside signs... probably too tired of changing the numbers so frequently for those with manual numbers and the ones with digital price signs have probably worn out the circuit board.

[Rinrada]

from the Brum Post last week....(Black Country)

Diesel price drops ... by 0.02p a litre...Jun 9 2008

After months of doom and gloom, there is temporary cheer for motorists and hard-pressed retailers.

Drivers were offered a glimmer of good news as diesel prices dropped – marginally – for the first time in nearly nine months, while the sunshine tempted shoppers to splash cash on the high street last month, according to latest figures.

The AA said the average pump price of diesel fell marginally over the weekend from 130.09p to 130.07p a litre.

It is the first drop since the end of the motoring season in September, the motoring organisation said, and comes in the wake of a 10 per cent drop in wholesale diesel prices over two weeks. Prices per metric tonne fell from $1,346 a tonne on May 23 to $1,204 on June 4, with the resumption of diesel production at three major European refineries cited.

But the respite could be shortlived as latest data shows wholesale prices on the rise after Friday’s spike in oil prices to nearly $140 a barrel...

We are HAPPY because Derv.is only £1-30 ltr..(85 Bt)....was as high as £1-45...(95Bt)...but how can LOS take it...?

Even the most optimistic punter over ere in the UK thinks £1-50 by Xmas (99bt) could be realistic if not guaranteed but we can afford it ...Yeah.....O Dear.....

[sriracha john]

PTT says $330 a barrel oil possible

Petroleum giant PTT Plc sees the prospect of world crude prices reaching a previously unthinkable US$300 per barrel if tensions in the Middle East escalate. Tevin Vongvanich, PTT's senior executive vice-president for corporate strategy and development, said yesterday that Iran's missile tests have had some negative effects on the oil market. The price of refined oil in Singapore rose by more than US$6 a barrel on Friday, making a decline in local fuel prices unlikely next week as anticipated. Tevin said global oil market analysts are concerned that if Iran is attacked by Israel and carries out its threat of retaliation by blocking oil shipments through the Strait of Hormuz in the Persian Gulf, it would probably result in world crude prices skyrocketing to $200 to $300 per barrel. A local oil industry source said if crude prices continue to climb at a steady rate, he won't be surprised to see local pump prices reach 56-80 baht per liter.

Continued here:

http://www.bangkokpost.net/topstories/tops...s.php?id=128846

Edited July 13, 2008 by sriracha john

[Briggsy]

There will come a point when other technologies, currently more expensive than oil, become as cheap as oil and are not dependent on unpredictable countries. Are we approaching this point yet or still a long way off?

[PeaceBlondie]

If I were a Minister of Energy, I would know how to make headlines. Predict oil prices of 400, 900, or 2000 dollars per barrel.

[sriracha john]

Oil prices to rise and cheap goods festival to be held

Energy experts are predicting that world oil prices are likely to shoot up to 150 US dollars next week. Domestic retailers may need to adjust their prices by another 1 to 2 baht.

To help assuage the high costs of living, the State Enterprise Policy Office (SEPO), in collaboration with other state enterprises, is planning to set up 30 booths at the “Be Confident Thailand; Good and Inexpensive Goods for Thai people” or “Man Jai Thailand Dee Nae Took Nae Peur Khon Thai” festival. The festival will sell quality products at reasonable prices and is to be held from July 17 to 20 at Impact, Muang Thong Thani.

- ThaiNews / 13-07-08

[ChiangMaiAmerican]

<br />There will come a point when other technologies, currently more expensive than oil, become as cheap as oil and are not dependent on unpredictable countries. Are we approaching this point yet or still a long way off?<br />

<br /><br /><br />

Its already here see:

http://www.thaivisa.com/forum/Thai-Researc...16#entry2082516

The problem is apparently no one in Thailand is interested. The palm oil industry apparently dictates alternative fuel policy.

[Heng]

That ought to get people confident again.

[sriracha john]

Thailand's Oil Problem Solved!!!

PM: Thailand to import low-priced diesel from Russia

Prime Minister and Defense Minister Samak Sundaravej indicates the Government will be importing low-priced diesel from Russia within 60 days.

In his live talk show on NBT channel today, the premier stated the Government is in the midst of negotiating with the Russian Government concerning diesel import. He says at the time being, more studies in the trade details and quality of the diesel are being implemented.

Samak claims that the current quality of diesel from Russia today is comparable to the quality of diesel consumed in Thailand five years ago. Moreover, he added that Russian diesel is eight baht cheaper than diesel sold in Thailand now.

According to the premier, around 300,000 tons of cheap diesel or 25 percent of domestic consumption will be imported from Russia. He says only members of Oil Cooperatives will be able to purchase the low-priced diesel as the cooperatives had financially supported the program.

With the diesel import measures, the Prime Minister and Defense Minister assured the domestic energy entrepreneurs that there will be no impact on their business.

He said the Government will not certainly get involved with any kickbacks from this scheme.

- ThaiNews / 13-07-08

[soundman]

^^^

Soon they will renaming Grade "B" bunker fuel with "HSD Euro III low sulphur" special limited edition premium diesel fuel & selling it to the public as a cost saving benifit but to only those who support the government.

Why in the world would the Russians sell a comparable product at 20% off market price?????? Surely market rate applies unless there are some sort of backhanders in the works.......

[Plus]

Diesel of their quality might not be difficult to sell otherwise.

On the other hand I find it hard to believe it's that bad, maybe they just want to dump the stuff from the bottom of the barrel.

[Meerkat]

If substandard diesel is to be sold generally here I hope it's patently obvious which one is which at the pumps. It won't matter much with older engines, but newer ones get rather picky with the quality of fuel used. IIRC Jaguar's reason not to import the new XF diesel here was because current Thai diesel doesn't match up to Euro standards and would muck up the engine, let alone the older stuff.

Governing by panic is rarely good governing.

[Plus]

Forget Jaguar, thousands of Benzes might be affected, in fact MB lobbies for cleaner diesel, they've got their Bluetec engines they can't sell here, and Thailand is a big market for them.

[sriracha john]

Thailand's Oil Problem Solved!!!

He said the Government will not certainly get involved with any kickbacks from this scheme.

^^^

Soon they will renaming Grade "B" bunker fuel with "HSD Euro III low sulphur" special limited edition premium diesel fuel & selling it to the public as a cost saving benifit but to only those who support the government.

Why in the world would the Russians sell a comparable product at 20% off market price?????? Surely market rate applies unless there are some sort of backhanders in the works.......

but, but, but... we have Samak's sworn word there will be no backhanders or kickbacks... surely his word is good as gold.

Diesel of their quality might not be difficult to sell otherwise.

On the other hand I find it hard to believe it's that bad, maybe they just want to dump the stuff from the bottom of the barrel.

Look. Here they are now busily preparing the next batch for Thailand's diesel fuel market.

Жать масло ведрами полюса

Дизель озера

Воркута Россия

лето 2006

which when I plugged into an online translator returned:

Harvesting the oil by pole buckets.

Lake Diesel.

Vorkuta, Russia.

Summer 2006.

[sriracha john]

This little tidbit of additional clarification and reassurances on the viability of the Corruption-Free Diesel Program:

The Prime Minister affirmed that there will be no corruption from the oil import as he will assign a private company to coordinate with Russia.

- Thailand Outlook

--------------------------------------------------------------

Apparently a company called WinMark has been awarded the contract. Anyone ever hear of them before?

Also:

-------------------------------------------------------------

Meanwhile, Agriculture and Agricultural Cooperative Deputy Minister Theerachai Sankaew affirmed that the agricultural sector has sufficient plants to produce ethanol biodiesel and that he will be table the biodiesel policy into the Cabinet meeting on Tuesday.

- Thailand Outlook

-------------------------------------------------------------

So they will take Russian diesel sludge and just to make it more toxic for my engine by swirling it up with a big dose of ethanol into a Black Russian for the vehicle....

[cclub75]

So they will take Russian diesel sludge and just to make it more toxic for my engine by swirling it up with a big dose of ethanol into a Black Russian for the vehicle....

Indeed. Very nice cocktail (the Black Russian that is).

As for the energy part of the issue, well... the only solution is to drink to get drunk.

And Samak with all his Grand Ideas might disappear into vapors of alcohol... That would be nice.

Anyway, the "russian deal" would solve nothing... That's only 20 to 25 % of the consumption.

And furthermore, who will be entitled to use this cheap diesel ? We can foresee many arguments. And corruption opportunities...

[Plus]

25% of total consumption is not nothing.

How about they use it in industries and for power generation and stop importing LPG. That way they can keep cooking gas cheap for a while longer. People would appreciate, and the drivers, too.

It's a trick, of course, but if they have cheaper options to give to the people, it's not that bad, is it?