Fuel Prices Continue To Make New Record High

[george]

Fuel prices continue to make new record high

BANGKOK: -- Local fuel prices continue to make a new record high with oil traders deciding to raise the oil prices of all kinds by 0.40 baht per liter today and planning to further increase them next week.

Effective from 06.00 hours, prices of premium and regular gasoline, premium gasohol, and diesel offered at service stations in Greater Bangkok have increased to 24.14, 23.34, 22.63 and 20.59 baht per liter respectively.

However, the diesel price offered at service stations of PTT Public Company Limited (PTT) has still stayed at 20.19 baht per liter, which is 0.40 baht lower than that offered by other oil traders.

A source in the energy business said although the oil price increased further today, it failed to reflect actual costs of the oil traders.

They still suffer loss since the marketing margin of diesel remains in deficit of 0.30-0.40 baht per liter while that of gasoline is in surplus of the same rate.

Normally, the margin of the diesel should be in surplus of 0.90-0.95 baht, and that of the gasoline in surplus of 1.50 baht per liter, said the source.

Apisit Rujikeatkamjorn, Senior Executive Vice President of PTT, said the company needed to further raise the fuel prices since marketing margins stayed at a very low level.

He said oil traders had suffered loss since the government decided to adopt the managed floatation of diesel prices.

Now, it remains unpredictable when the continued oil price hike would stop, he said, adding that Thailand needs to import fuel despite the hefty oil prices in the world market.

Of late, however, gasoline and diesel prices have begun to ease by 20 cents and US$1.9 dollars to US$61.7 and US$68.55 respectively.

Crude prices in the US dropped by 95 cents to US$58.09 and those in Dubai reduced by 48 cents to US$52.32 per barrel.

“PTT has no plan to increase diesel price by 0.80 baht per liter immediately, which will equal to the prices offered by other oil traders,” said Mr. Apisit.

--TNA 2005-06-24

[billd766]

I just caught the BBC news this morning and it seems in the UK diesel is now 74.63 baht per litre and unleaded petrol is 64.09 baht (or £1.00 and £0.86).

I love it in Thailand.

[bdenner]

I just caught the BBC news this morning and it seems in the UK diesel is now 74.63 baht  per litre and unleaded petrol is 64.09 baht (or £1.00 and £0.86).

I love it in Thailand.

<{POST_SNAPBACK}>

I for another am not complaining about fuel prices here but:

Like the UK, Aust. has this thing where diesel at $1.19 is alot dearer than unleaded petrol $1.01 --- How the &lt;deleted&gt; do they justify that when the refining costs are much less

[Sandstone Art]

We should take into considerations the standard of living here by those trying to make ends meet.

What is the salary of those in UK or other European countries vs that of the Thais??

If they are earning around those in other richer countries, the price for petrol now is nothing compared to those developed countries

Toxin should be responsible for their sufferings! If he let the operator increases in price grudually since last year, those suffering now will not be in for the rude shock...

He was all in for the government to buffer and control the price...he think he is right to 'defend' the oil prices.....

I had told my staff in January this year when they compared the oil price around the region.....

I told them to be patient and wait till after the general elections and they will see where the oil price rocket to

[george]

Gasoline price likely to surpass Bt25 per liter next week

BANGKOK: -- Fuel prices of all categories are likely to further increase next week with the premium gasoline price poised to surpass the level of 25 baht per liter, according to an industry executive.

Anusorn Saengnimnual, President of Bangchak Petroleum Plc, said the increase in the prices of fuel of all kinds by 0.40 baht per liter, effective from today, still failed to reflect actual costs of oil traders for both gasoline and diesel.

For gasoline, the current price must edge up by 1.50 baht per liter if the marketing margin is to be justified.

That means the premium gasoline price would surpass 25 baht per liter from 24.14 baht at present.

Under the current circumstance, he said, people in all walks of life need to cooperate concretely in the energy-saving campaign to ease the country's oil imports.

Yesterday the price of crude oil on the US West Texas Intermediate Market jumped to a historic high of US$60 a barrel before closing the day at US$59.30 a barrel, which was still a highest recorded level.

Mr. Anusorn yesterday joined a ceremony of the signing of a memorandum of cooperation in a program of bio-diesel production for a commercial purpose between Bangchak, A.S.B. Corporation Group (ACG), and Thai Military Bank Plc (TMB).

Under the program, the AGC plant in the central Ayutthaya Province would produce 300,000 liters of bio-diesel per day for sale to Bangchak with TMB acting as a financial supporter.

He said the program was initiated in support of the government’s policy on promotion of bio-diesel consumption to help ease the fuel imports.

--TNA 2005-06-24

[patricktan]

Are the Thai government is going to inprement night life or shopping to stop early by 9:30pm? That what they have done before.

[Rinrada]

We should take into considerations the standard of living here by those trying to make ends meet.

What is the salary of those in UK or other European countries vs that of the Thais??

If they are earning around those in other richer countries, the price for petrol now is nothing compared to those developed countries

To make a comparison and based on the NMW (national MINIMUM wage) and also to keep it APPROX UK base workers earn ...(as said approx) 20 times what the "average" Thai earns..ie roughly 20 bt hr/400 bt hour (fact of life and thats the score)

Ok..we know that Bargirls,MPs and plumbers earn more but to compare....

So if we are really talking about having to pay 25 bt a ltr in LOS the natural equivalent for the UK based purely on GDP would/should be 500 bt /litre

(about £6-50) so at UK prices of £1 /75 bt a litre we are doing very well...in fact its Bloo..y cheap.

The reverse argument again based on ..etc is that if the Thais should/did pay 1/20 th. of wot we soapdodgers coff up then a more realistic price of a litre in bangers should be @ 3.75 bt /litre.....but we all know "fings" dont work like that....

Noticed an air fare advertised from Lon-Los the other day for £250 return (forget who) but the tax on top was £125 plus a new fuel/oil price rise surcharge of...whatever... to hike even further...

...anyway my BP shares have gone up again

[MrSnrang]

*cough*Hybrids*cough*

[chownah]

We should take into considerations the standard of living here by those trying to make ends meet.

What is the salary of those in UK or other European countries vs that of the Thais??

If they are earning around those in other richer countries, the price for petrol now is nothing compared to those developed countries

To make a comparison and based on the NMW (national MINIMUM wage) and also to keep it APPROX UK base workers earn ...(as said approx) 20 times what the "average" Thai earns..ie roughly 20 bt hr/400 bt hour (fact of life and thats the score)

Ok..we know that Bargirls,MPs and plumbers earn more but to compare....

So if we are really talking about having to pay 25 bt a ltr in LOS the natural equivalent for the UK based purely on GDP would/should be 500 bt /litre

(about £6-50) so at UK prices of £1 /75 bt a litre we are doing very well...in fact its Bloo..y cheap.

The reverse argument again based on ..etc is that if the Thais should/did pay 1/20 th. of wot we soapdodgers coff up then a more realistic price of a litre in bangers should be @ 3.75 bt /litre.....but we all know "fings" dont work like that....

Noticed an air fare advertised from Lon-Los the other day for £250 return (forget who) but the tax on top was £125 plus a new fuel/oil price rise surcharge of...whatever... to hike even further...

...anyway my BP shares have gone up again

<{POST_SNAPBACK}>

A minimum wage earner in Thailand is not likely to have anything that runs on diesel except maybe farmers having two wheel tractors. Is it likely that minimum wage earners in UK would own anything that runs on diesel?

[Heng]

Let the prices float already.

[Buff-horns]

all those taxis returning to town from the airport without passengers ,what a waste of fuel! work out how much per year that they waste !it must be the biggest waste of fuel in LOS. No taxis should go back to town without a fare !