Oil prices drop while gas prices rise in Thailand

[webfact]

Oil prices drop while gas prices rise in Thailand

BANGKOK, 18 November 2014 (NNT) - The Energy Policy Committee has come up with a resolution to lower benzene and gasohol fuel prices down by another 60 satang today after world oil prices have declined continuously.

Energy Minister Narongchai Akkaraseranee revealed that the committee has adjusted the oil prices in Thailand in compliance with the market mechanism. Oil retailers, therefore, have been requested to lower down the prices of benzene and gasohol by 60 satang a liter. However, prices of Gasohol E85 and diesel will stay the same.

Although the committee agreed to allocate 60 satang more to every liter of diesel sold to the Oil Fund, it has assured that such action would not affect retail diesel prices. Diesel oil prices will continue to be sold at 29.39 baht per liter.

On the other hand, the committee agreed to raise LPG prices to reflect their actual costs in the market. LPG prices in the household and transport sector are set to be increased by 50 satang per kilogram from 22.63 baht to 23.13 baht, effective today.


-- NNT 2014-11-18

[worgeordie]

As expected very slow for prices to drop at the pumps,but when

prices of oil rises,they go up very quickly.

regards Worgeordie

[NeverSure]

Oil prices drop while gas prices rise in Thailand.

Says it all.

[nev]

Large petrol station takes over the market putting smaller stations out of business, have a monopoly and no competition so can charge what they want.

[Lingba]

• what a surprise now

[ratcatcher]

Is the Caltex group under the Chevron banner? I believe it is.

[connda]

Come on!!! You don't expect oil companies to pass up on windfall profits do you?

[Nuddy]

Caltex is a petroleum brand name of Chevron Corporation used in more than 60 countries in the Asia-Pacific region, the Middle East, and southern Africa.

[lust]

Soon they will have the 2-tier system at the pumps. Thai and non-thai pricing.

[bkkjames]

The optimist in me hopes it's just the backlog of previously purchased fuel at higher prices keeping pump prices up. The pessimistic me tells the optimist me to shut up.

[tullynagardy]

In most countries prices have dropped by around 20%.

Another example of why this junta will fail in 2015.

[Gunna]

Come on!!! You don't expect oil companies to pass up on windfall profits do you?

I think the Thai Government is the winner as it doesn't have to pay as much in subsidies to keep the oil price lower than it would be without them.

[Alwyn]

As expected very slow for prices to drop at the pumps,but when

prices of oil rises,they go up very quickly.

regards Worgeordie

Same here in the UK

[TheFishman1]

This is Thailand hope that answer your question

[Emster23]

Any time government gets into economy and pricing here I wince. Like giving a hoe to a drunk teenager, with similar results.

[nisakiman]

Here in Greece the price of LPG has dropped by 15% over the last few months.

[Chris Lawrence]

World prices for petrol have dropped over the last few weeks?

[NeverSure]

World prices for petrol have dropped over the last few weeks?

Yes. I bought regular unleaded for US$2.40 per US gallon. That's 78 baht. There are 3.78 liters in a US gallon. That's down sharply in the last 90 days.

[diehard60]

Diesel oil prices will continue to be sold at 29.39 baht per liter.

Where is this???? In Issan it is 30.14 - 30.44

[Strangebrew]

One must understand things work differently in Thailand the HUB of greed.

[phutoie2]

Diesel oil prices will continue to be sold at 29.39 baht per liter.

Where is this???? In Issan it is 30.14 - 30.44

They always quote the Bangkok price, its dearer up country. Transportation costs, its above 30 THB in our town too.

[spidermike007]

World prices for petrol have dropped over the last few weeks?

Yes. I bought regular unleaded for US$2.40 per US gallon. That's 78 baht. There are 3.78 liters in a US gallon. That's down sharply in the last 90 days.

Not sure anyone can prove to me that PTT could not lower its prices by a good margin, and still not make a profit. This lack of lowering of the prices, despite the massive fall in wholesale oil prices reeks of profiteering. Maybe another example of the lack of consumer protections the current government is responsible for? And the lack of a free market. I know the apologists will say that the gas is subsidized. I do not believe it. It is simply too high to be subsidized, unless the oil companies are being mismanaged on a tragic level.

[billd766]

In most countries prices have dropped by around 20%.

Another example of why this junta will fail in 2015.

It certainly has NOT dropped by 20% in the UK nor I suspect in the EU either but being as you say that it has can you please provide the links?

[billd766]

Diesel oil prices will continue to be sold at 29.39 baht per liter.

Where is this???? In Issan it is 30.14 - 30.44

The extra cost is for delivery to Issan and most places outside Bangkok and the refineries.

[Thai at Heart]

Energy Minister Narongchai Akkaraseranee revealed that the committee has adjusted the oil prices in Thailand in compliance with the market mechanism

Surely shome contradiction here. They adjusted it by committee.....