Petrol price dips below diesel

BANGKOK: -- The price gap between domestic petrol and diesel is set to widen further this week, due to easing petrol demand against higher demand for diesel around the globe.

Caretaker Energy Minister Viset Choopiban said Thursday that domestic petrol prices could fall further by the end of this week. If gasoline prices are to be cut and diesel prices to remain the same, the gap between them will be widened.

Thursday marked the first time in eight years that petrol prices are lower than diesel, following a 40 satang-per-litre gasoline price reduction. Octane91 gasoline is now sold at Bt26.89 per litre, compared with Bt27.14 for high-speed diesel. Another 40 satang-per-litre price cut would bring down the octane95 gasoline price to Bt27.29

--The Nation 2006-09-07

PTT and Bangchak announces to reduce its oil prices again tomorrow

PTT and Bangchak have decided to reduce the fuel prices tomorrow after the oil prices in the global market have dropped sharply.

Mr. Chaiwat Churit (ชัยวัฒน์ ชูฤทธิ์), the PTT Deputy Managing Director, disclosed that the oil prices in PTT and Bangchak will be reduced again. The benzene prices will be reduced by 50 satang per liter, while the price of diesel will be decreased by 40 satang per liter. The adjustments will be effective tomorrow from 5 AM onwards. Mr. Chaiwat said the decrease of oil demand and the nuclear situation between Iran and the United Nations (UN) have caused the fuel prices in the global market to plummet.

Meanwhile, Mr. Manoon Siriwan (มนูญ ศิริวรรณ), the Deputy Managing Director of Bangchak, said that Bangchak will also lower down its benzene and diesel prices like the PTT. He said the price adjustments will help alleviate the public burden during the current economic and political situations.

Source: Thai National News Bureau Public Relations Department - 08 September 2006

On a recent visa run to Penang, I noticed that diesel was only 15 baht a litre. Ayone know why there's such a difference in the price here in Thailand ?

Malaysia is an oil producing country.

From Wikipedia:

The government predicts that at current production rates Malaysia will be able to produce oil for 18 years and gas for 35 years. In 2004 Malaysia is ranked 24th in terms of world oil reserves and 13th for gas. 56% of the oil reserves exist in the Peninsula while 19% exist in East Malaysia. The government collects oil royalties of which 5% are passed to the states and the rest retained by the federal government.

Ouch, my only happiness in having a diesel vehicle is at the pump--now even that is gone!

Shell announces to reduce fuel prices tomorrow

Marketing Manager of Shell Thailand Co., Ltd. Suphan Sutthisarn has announced the reduction of all types of its fuel prices, to be effective tomorrow morning at 5 AM.

The benzene prices will be reduced by 50 satang per liter, while the price of diesel will be cut down by 40 satang. The adjustment is to associate with the plunge of global oil prices, he said.

Moreover, he added, the reduction will also help alleviate the public burden during the current economic and political situation.

Source: Thai National News Bureau Public Relations Department - 08 September 2006