Ptt Expects Brisk Business After Price Freeze

[george]

PTT expects brisk business after price freeze

BANGKOK: -- Thailand’s state-run oil company PTT expects to experience brisk business this weekend following its decision not to raise the prices of gasoline and gasohol, unlike the other oil producers, according to the company’s vice president, Chaiwat Choorit.

Oil producers have increased prices of gasoline and gasohol by 40 satang per litre from Saturday while PTT has frozen the prices of its fuel.

The PTT’s oil warehouses will be open on both Saturday and Sunday, but will only sell fuel to petrol stations. It will not sell oil to jobbers or oil wholesalers for fear that this may lead to oil speculation, he said.

However, PTT plans to increase its oil prices next week in line with other producers.

Combined consumption of gasoline and gasohol in Thailand is around 20 million litres a day, while PTT’s sales accounts for less than two million litres a day – approximately 30 million litres a month.

PTT’s current freeze in prices is expected to boost its sales several fold, though officials project a daily loss of up to 2 million baht.(

--TNA 2005-04-09