Gasoline : 30 Thb Soon ?

[cclub75]

Let's play a game : bored with football bets ? Try to bet on the "summer gasoline price".

It's less sanook, but maybe more important... And you are SURE to win !

To help you, here is the last "your eyes are heavy/you feel sleepy/and you feel confident" delirious statement of one the VP of this great public company that is PTT...

As usual, it's like a precious delicacy that you must savour...

Personaly, i picked this last sentence : "Reiterating that PTT would not lead the way in raising local oil prices".

And eventually my bet : 32 THB per liter (regular not diesel) by 25 of august.

30-baht petrol price looms

Rising global oil prices, an explosion of US oil pipeline and concerns over a hurricane which may hit that country, plus a 'zero marketing margin' for major local oil dealers, PTT PCL said Saturday these may push domestic fuel prices up again next week.

Those external issues have caused a panic to the local market, but they should not last long as it was hoped that world oil prices would decline after the issues have settled down, said Chaivat Churitti, PTT's Senior Executive Vice President for Oil Business Group.

Global oil prices rose sharply Friday with gasoline prices on the Singapore market closing higher by US$2.45 a barrel to US$86.74, while diesel prices ended higher by US$1.20 to close at nearly US$86 a barrel.

PTT will raise its gasoline and gasohol prices from Sunday (July 2) on par with those of other local oil traders which raised their prices last Friday--to Bt29.79, Bt28.99 and Bt28.29 per litre for premium and regular gasoline, as well as gasohol respectively in Bangkok and surrounding provinces.

But PTT's marketing margin for gasoline is nil, compared to the appropriate marketing margin of about Bt1.50 per litre, said Mr. Chaivat.

The retail price for diesel remains unchanged at Bt27.54 per litre because PTT still earns about Bt0.70 per litre in marketing margin.

Reiterating that PTT would not lead the way in raising local oil prices, Mr. Chaivat urged the public to help reduce oil consumption and hinted that soaring global oil prices may force retail fuel prices on the domestic market to further go up next week if it is unavoidable. (TNA

[Rinrada]

and it could always get worse.....recent report from davos...

Ready for $262 a barrel oil?

Two of the world's most successful investors say oil will be in short supply in the coming months.

By Nelson Schwartz, FORTUNE senior writer

DAVOS, Switzerland (FORTUNE) - Be afraid. Be very afraid.

That's the message from two of the world's most successful investors on the topic of high oil prices. One of them, Hermitage Capital's Bill Browder, has outlined six scenarios that could take oil up to a downright terrifying $262 a barrel.

Investor George Soros says Iran is heading for a confrontation with the West.

More from FORTUNE .................

FORTUNE 500

http://money.cnn.com/2006/01/27/news/inter...oney_topstories

[Thaipwriter]

when the price hits 60 baht per litre i will go back England.

Gonna stay here for now though

[monty]

Imagine me being upset when the price from LPG went up to 9.65 Baht/liter from 9.55 Baht....

Doesn't bother me to much, even if they float the price from gas (currently subsidized), it would hit something like 12-13 Baht/liter...

[sbk]

What are you talking about? It already is 30 baht a liter for gasoline on Koh Phangan.

[meadish_sweetball]

The retail price of gas is over 30 in Chiang Mai too since a while back, but I guess that there may be a profit margin or something else added to that - or is it because the gasoline has to be transported up here from Bangkok?

[cclub75]

What are you talking about? It already is 30 baht a liter for gasoline on Koh Phangan.

That's seem perfectly normal : you pay the transportation of gasoline to the island.

What the people are looking at is the bangkok price.

For political reasons, PTT and the government try to downplay the risks and to gain time (until next general elections). But at one point the "elastic" (subsidies and other "cushion" mecanisms) will break.

[Chang_paarp]

when the price hits 60 baht per litre i will go back England.

Gonna stay here for now though

When it is 60 Baht in LOS, inagine what it will be in England.

3 pound or 4?

What will the fuel surcharge be on the flight back?