Ministry Plans To Reduce Oil Prices

[churchill]

The Ministry of Energy is set to propose the National Energy Policy Committee to come with measures to ease fuel cost burden of people after three foreign oil traders had this morning silently increased pump prices by 80 satang a litre.

Pornchai Rujiprapha, the ministry’s permanent secretary, said on Wednesday that his ministry had discussed ways to reduce fuel cost as the global oil prices are on the rise. The meeting’s resolution will be proposed to the meeting of the National Energy Policy Committee, chaired by the prime minister, scheduled for August 24.

Shell, Esso and Caltex had raised their fuel prices by 0.80 baht per litre, bringing retail prices to 30.54 baht a litre for gasohol 91, 34.94 baht for benzene octane 91 and 28.89 baht for diesel B2. Over the past three weeks, pump prices were raised by 2.40 baht per litre. continued

http://www.bangkokpost.com/breakingnews/15...duce-oil-prices

-- Bangkok Post 05/08/09

[churchill]

Discussion on Oil Fund levy Thursday

Writer: BangkokPost.com

Published: 5/08/2009 at 03:02 PM Prime Minister Abhisit Vejjajiva said on Wednesday he has called a meeting of agencies concerned at 4pm tomorrow to discuss over the possibility of lowering the contribution to the Oil Fund from retailed fuel prices.

He said the discussion is necessary because the global crude oil price has risen above US$70 per barrel and this could affect the people's cost of living since the capital costs for transport and goods production would go up.

"I used to say earlier that the Oil Fund levy would not be adjusted if the oil price is below 70 dollars per barrel. Now it is time for us to talk over this matter," said Mr Abhisit.

-- Bangkok Post 05/08/09http://www.bangkokpost.com/breakingnews/151195/discussion-on-oil-fund-levy-thursday

[astral]

That is still less than $1 a litre.

[Chunkton]

Seems it is the foreigners fault. Mind you who sympathizes with big oil?

[Thai at Heart]

Seems it is the foreigners fault. Mind you who sympathizes with big oil?

Hiding at the bottom of the article

PTT and Bangchak late on Wednesday afternoon announced an increase in their pump prices of 80 satang a litre, effective on Thursday.

Got to love this type of one eyed reporting. Presumably PTT and Bangchack will be packed tonight.

[Soutpeel]

Seems it is the foreigners fault. Mind you who sympathizes with big oil?

Hiding at the bottom of the article

PTT and Bangchak late on Wednesday afternoon announced an increase in their pump prices of 80 satang a litre, effective on Thursday.

Got to love this type of one eyed reporting. Presumably PTT and Bangchack will be packed tonight.

Why did the words.."Pot", "kettle" and "black" spring to mind when I read this article...

[mrtoad]

Seems it is the foreigners fault. Mind you who sympathizes with big oil?

Hiding at the bottom of the article

PTT and Bangchak late on Wednesday afternoon announced an increase in their pump prices of 80 satang a litre, effective on Thursday.

Got to love this type of one eyed reporting. Presumably PTT and Bangchack will be packed tonight.

[rogercw]

The Thai government is already running a deficit and borrowing money to finance a stimulus program which is probably rife with corruption. The only way to reduce pump prices, the purpose of which would be to shore up the popularity of the current government, in the face of a rising oil price is to borrow even more and make the deficit even larger. Just because Lord Obama does this sort of thing in America does not make it right.

[emancipationthailand]

what's the prices comparisons between here and the US for Benzine 95?

Processed price / Consumer price?

Do you know how much the govt reeks in from the consumer? Benzine 95? 17.xx baht >>> 39.xx baht? I thing this was shown in TV channel 3 this morning.

[astral]

A misleading title.

There is no way the Thai government can reduce Oil Prices.

Consumer prices at the pump, maybe.

[slapout]

It does not take a rocket scientist to figure the price of diesel/petrol vs the price of oil currently (67 to 74us/bbl. Depending on where it originates, sulfur content, specific gravity, etc. Transport, refining, tax, retail mark up, etc costs enter into the pump price. PTT and all retailers are gouging the public at the present time, thus the PM recently appointed a commission to look into the price/profit/etc. The increase noted for pumps over the past 3 weeks fail to mention oil price dropped from 72us/bbl to 60 and subsequently has risen back above 72us/bbl. No pump price reflected this here in Thailand. Profits of PTT will be stated in comparative numbers from a year ago instead of the profit margin they are presently enjoying. US gasoline/diesel prices do include a federal and state tax with the proceeds, in part, used to build, maintenance and service highways. I do not know what the petrol tax in the UK and Europe is used for, even with the high fuel cost, but, Thailand seems to follow the taxation thinking but road building, improvement, maintenance, etc do not seem to be tax related. Just my observation.

[marquess]

It does not take a rocket scientist to figure the price of diesel/petrol vs the price of oil currently (67 to 74us/bbl. Depending on where it originates, sulfur content, specific gravity, etc. Transport, refining, tax, retail mark up, etc costs enter into the pump price. PTT and all retailers are gouging the public at the present time, thus the PM recently appointed a commission to look into the price/profit/etc. The increase noted for pumps over the past 3 weeks fail to mention oil price dropped from 72us/bbl to 60 and subsequently has risen back above 72us/bbl. No pump price reflected this here in Thailand. Profits of PTT will be stated in comparative numbers from a year ago instead of the profit margin they are presently enjoying. US gasoline/diesel prices do include a federal and state tax with the proceeds, in part, used to build, maintenance and service highways. I do not know what the petrol tax in the UK and Europe is used for, even with the high fuel cost, but, Thailand seems to follow the taxation thinking but road building, improvement, maintenance, etc do not seem to be tax related. Just my observation.

There should be little sympathy for the Thai gov in this matter, a year ago when the oil price was $147 we were paying 41 Baht at the pumps. Yet now that it is $75 we are paying 35 Baht at the pumps. Should prices again reach $140 we will be paying 70 Baht. The tax regime needs to be changed!

[caf]

It does not take a rocket scientist to figure the price of diesel/petrol vs the price of oil currently (67 to 74us/bbl. Depending on where it originates, sulfur content, specific gravity, etc. Transport, refining, tax, retail mark up, etc costs enter into the pump price. PTT and all retailers are gouging the public at the present time, thus the PM recently appointed a commission to look into the price/profit/etc. The increase noted for pumps over the past 3 weeks fail to mention oil price dropped from 72us/bbl to 60 and subsequently has risen back above 72us/bbl. No pump price reflected this here in Thailand. Profits of PTT will be stated in comparative numbers from a year ago instead of the profit margin they are presently enjoying. US gasoline/diesel prices do include a federal and state tax with the proceeds, in part, used to build, maintenance and service highways. I do not know what the petrol tax in the UK and Europe is used for, even with the high fuel cost, but, Thailand seems to follow the taxation thinking but road building, improvement, maintenance, etc do not seem to be tax related. Just my observation.

Various projects:

A member of Parliament wants the moat on his country house cleaned

Another wants to build a house for ducks on a duck island.

Refurbish a second home then sell on at a discount to a family member

oh the list is endless