Gas/diesel Prices Dropping In Los?

[Spee]

Given that commodity futures pricing for oil has dropped by about 25% in the last two weeks, from all time highs of about $148 to under $119 today, are prices for gas and diesel dropping by any significant amounts in Thailand? Where I'm at in the US, prices are down from about $4.05 to under $3.70 per gallon, not quite the same 25% drop although that's not entirely unexpected. Has there been similar relief at the pumps or airfares to and from?

[PeaceBlondie]

E10 gasohol is down below 31, close to 29, as of yesterday. I doubt the prices are directly tied to spot prices and futures.

[PattayaParent]

Prices of all petrols dropped by about 5 Baht a litre last week.

Don't know about diesel.

[Beacher]

Given that commodity futures pricing for oil has dropped by about 25% in the last two weeks, from all time highs of about $148 to under $119 today, are prices for gas and diesel dropping by any significant amounts in Thailand? Where I'm at in the US, prices are down from about $4.05 to under $3.70 per gallon, not quite the same 25% drop although that's not entirely unexpected. Has there been similar relief at the pumps or airfares to and from?

I was wondering what people are paying for gasoline in America. If your current price is under $3.70 for regular 91 octane (not gasahol) you can be happy knowing that you pay substantially less than we do in impovershed Thailand -- go figure.

According to my calculations, we pay 37.49 baht per liter (apprx. 35 ounces), so that's around 1.07 baht per ounce. A US gallon is 128 ounces, so in Thai baht it works out to 137 baht per US gallon . Converted at Siam Commercial's rate of 33.44 baht to the US dollar it come to $4.09 per US gallon. (I believe these figures are correct, but I'm not a math wizard by any means.)

i guess it's true that the rich get richer and the poor get poorer. Now I can see why.

[mgjackson69]

Diesel went down a bit also, though not as much as gasoline.

Just to give some price points, here are a few THB/litre and USD/gallon equivalents:

20 = $2.37

25 = $2.95

30 = $3.55

35 = $4.14

40 = $4.73

45 = $5.32

50 = $5.91

I just did a spot check of gasoline prices in USA (South Dakota, usually is about in the middle of the high-low range). I see about $3.75 for "lowgrade", typically 87 octane.

That works to 31.70 THB/litre

[lardy]

but but but...... (excuse stammer) didnt the govt lower the prices last week anyway as part of their "helping the poor" package wanst it 5 baht or something cant remember?

[BEENTHEREDONETHAT]

1 gallon = 3.7854 litres

[insane]

Not In the UK its doesnt it =4.546 litres

[JetsetBkk]

Not In the UK its doesnt it =4.546 litres

You're not insane after all!

1 Imp. Gallon = 4.5456 Litres

1 US Gallon = 3.785 Litres

1 Imp. Gallon = 1.20095 US Gallons

1 US Gallon = 0.832674 Imp. Gallons

[Mali1964]

I remember paying 34 baht a ltr for diesel early to mid May, & on the web site i use it shows crude was around 125 dollars a barrel around that time.Today its at 115 dollars, i,v just seen on channel 7 news diesel is around 35.5 baht today so if you add back in the tempory tax rebate which i can,t remember sorry, was it around 3 baht for diesel ??? thats really 37.5 baht today so at the pumps its still 3.5 baht over what is was in May but the crude is 10 dollars under Mays price today i know they will say it takes time to filter through but it went up fast enough as the crude price surged to nearly 150 a barrel .www.oil-price.net

Edited August 9, 2008 by Mali1964

[Mali1964]

So i,m expecting even further falls in pump prices even if the crude price now stabilize,s which is good news for all

Shaun

[mgjackson69]

Funny how, when the price of crude rises, the price of fuel jumps almost simultaneously...."we have to cover our increased costs"

But when the price of crude falls, the resultant decrease in fuel price is always lagging a bit..."because the more expensive fuel is already 'in the pipeline'"

They forget about the cheaper fuel that was 'in the pipeline' when the crude price went up

[dumball]

Funny how, when the price of crude rises, the price of fuel jumps almost simultaneously...."we have to cover our increased costs"

But when the price of crude falls, the resultant decrease in fuel price is always lagging a bit..."because the more expensive fuel is already 'in the pipeline'"

They forget about the cheaper fuel that was 'in the pipeline' when the crude price went up

It is all about GREED , all commodities went up with the rate of inflation caused(they say) by the cost of transportation , now that the cost of fuel has dropped , what ( if any) reflection has shown in your day to day purchases ? A person can always walk to same money for fuel , but one has to eat !

[bendix]

Funny how, when the price of crude rises, the price of fuel jumps almost simultaneously...."we have to cover our increased costs"

But when the price of crude falls, the resultant decrease in fuel price is always lagging a bit..."because the more expensive fuel is already 'in the pipeline'"

They forget about the cheaper fuel that was 'in the pipeline' when the crude price went up

Another common fallacy. Check your records. Crude oil went from 72 to 147 dollars from September 07 to last month. Did the price of gas more than double at the pumps? No . . not at all. They increased around 40%, meaning the oil companies effectively bore the brunt of most of the price rises.

[mgjackson69]

Funny how, when the price of crude rises, the price of fuel jumps almost simultaneously...."we have to cover our increased costs"

But when the price of crude falls, the resultant decrease in fuel price is always lagging a bit..."because the more expensive fuel is already 'in the pipeline'"

They forget about the cheaper fuel that was 'in the pipeline' when the crude price went up

Another common fallacy. Check your records. Crude oil went from 72 to 147 dollars from September 07 to last month. Did the price of gas more than double at the pumps? No . . not at all. They increased around 40%, meaning the oil companies effectively bore the brunt of most of the price rises.

Maybe so, *if* I had stated that fuel prices increase at the same percentage...that is not what I said.

I was merely comparing the how quickly the price of fuel rises and falls in relation to the rise and fall in the price of crude oil.

I never said anything about the amount of increase or decrease.

[Mali1964]

Funny how, when the price of crude rises, the price of fuel jumps almost simultaneously...."we have to cover our increased costs"

But when the price of crude falls, the resultant decrease in fuel price is always lagging a bit..."because the more expensive fuel is already 'in the pipeline'"

They forget about the cheaper fuel that was 'in the pipeline' when the crude price went up

Another common fallacy. Check your records. Crude oil went from 72 to 147 dollars from September 07 to last month. Did the price of gas more than double at the pumps? No . . not at all. They increased around 40%, meaning the oil companies effectively bore the brunt of most of the price rises.

Good point though. But still if it keeps coming down its some very good news for us all.

[Mali1964]

Given that commodity futures pricing for oil has dropped by about 25% in the last two weeks, from all time highs of about $148 to under $119 today, are prices for gas and diesel dropping by any significant amounts in Thailand? Where I'm at in the US, prices are down from about $4.05 to under $3.70 per gallon, not quite the same 25% drop although that's not entirely unexpected. Has there been similar relief at the pumps or airfares to and from?

Diesel at its high hit around 44 baht at least, today its at 35 Baht but there is that rebate the goverment gave 2/3 baht ? for diesel, it expires in 6 months sometime early January. PTT website does have a history of all fuel price's sorry don't have a link for you.

[PoorSucker]

This does not apply for me, I always buy for 200 baht.