Petrol May Cost 30 Baht In 30 Days

[george]

Petrol may cost 30 baht in 30 days

BANGKOK: -- The chairman of Shell Corp (Thailand) said today that prices at the pumps will likely rise again in the next two days and hit 30 baht within 30 days. The energy minister said he was on the verge of recommending a cut in the oil excise tax to seek some relief for dealers and drivers alike.

Theerapot Vatcharapai, chief of Shell, said the sharp increase in the refined oil prices in Singapore by around US$3-to-$4 per barrel would likely mean another 40 satang rise in pump prices for all fuel - diesel, gasoline and gasohol.

Prices are already recent levels in baht, and nearing the 1973 level of the "oil shokku" in adjusted baht.

Mr Theerapot said the surge in Singapore prices had put a marketing margin of gasoline and diesel in greater deficit.

He projected the local fuel prices would edge up further this week but in a gradual manner to ensure consumers are not adversely affected.

Actually, he said, retail fuel prices would edge up by around 0.25 baht per litre if the global oil prices hiked by $1 per barrel. But the strengthening of the baht for now had help reduced the sharp rise of the local oil prices.

“It is very likely the gasoline price will increase to 30 baht per litre within this month if the global oil prices stay higher.“

Caretaker Energy Minister Viset Choopiban on Wednesday hinted he would propose an oil excise tax cut if fuel prices continued to increase and would seek refineries’ cooperation to reduce refining margins if refined oil prices rose unusually above crude oil prices.

He conceded the oil price increase is beyond control. One of the best ways to ease impacts from the price surge is to boost campaigns for fuel consumption conservation and encourage the use of energy alternative, particularly natural gas for vehicle (NGV) whose price equals 30-35 per cent of fuel prices.

He said the ministry would discuss with other state agencies concerned, particularly the Finance Ministry additional measures to ease impacts.

One of them might be a reduction of a diesel excise tax if the Finance Ministry deemed it appropriate to do that to ease economic costs.

As well, should the refined oil prices surge unusually above the global crude prices, the ministry might need to seek cooperation from refineries to help reduce refining margins.

However, he insisted the government would not intervene in the oil price movement by instructing the refining margin cut. Instead, it would seek a discussion with oil traders and refineries on the matter.

“We won’t intervene by ordering the refining margin cut. Instead, we will seek cooperation from oil traders and refineries for help like that in the United States when hurricanes stormed certain states last year. During that time, refineries agree to cut refining margins to help traders.

--Bangkokpost.com, TNA 2006-05-03

[seonai]

On the island where I live it is up to 34 baht.

[the weaver]

On the island where I live it is up to 34 baht.

On the island where I live its now around 650 baht

[Ned]

Am I imagining it or is there less traffic nowadays?

[astral]

Probably true.

Remember 97 when the bubble burst?

There was very little traffic then

[seonai]

weaver - slight difference in salary scales non ????