Benzene Prices May Experience A Reduction Again

[Jai Dee]

Benzene prices may experience a reduction again

Oil Traders Association of Thailand President Sompop Thanatirapong (สมภพ ธนะธีรพงศ์) said that benzene prices may experience a reduction again, while the price of diesel is expected to increase by the end of this year.

Mr. Sompop said the demand for benzene in the United States market has lessened, but the demand for diesel is higher than over the past years due to the approaching winter season. The diesel consumption is now two times higher than benzene. In the end of October till December this year, the fuel prices will possibly be adjusted again. He said that the consumption of diesel may be reduced if its price remains high. However, he said that people has an alternative energy to use such as the Natural Gas for Vehicles (NGV).

The Oil Traders Association of Thailand President said that there are no negative signals on the oil prices at the moment because the conflicts between the oil-producing countries have subsided, and OPEC will increase its oil production. He forecasts that the oil prices during the end of this year will be lower.

Source: Thai National News Bureau Public Relations Department - 13 September 2006

[Jai Dee]

PTT says reduction in fuel prices is due to adjustment in global oil prices

All oil traders have made an announcement that they will reduce the benzene prices by 40 satang per liter and the price of diesel by 50 satang per liter, to be effective at 5 AM tomorrow (14/09/06). The PTT Deputy Managing Director, Mr. Chaiwat Churit (ชัยวัฒน์ ชูฤทธิ์), stated that the company has decided to reduce its oil prices as the global oil prices have declined. He insisted that the company will adjust its fuel prices if the global oil prices continue to reduce.

Over the past four weeks, there has been a reduction in benzene prices by 3.80 baht per liter and a reduction in diesel price by 1.30 baht per liter.

Following the PTT’s decision to lower the fuel prices tomorrow, other oil traders have also announced to reduce their oil prices at the same rate. Starting 5 AM tomorrow, fuel prices in Bangkok and surrounding provinces would be as follows: 26.39 baht per liter for benzene 95, 25.599 baht per liter for benzene 91, 24.89 baht for gasohol 95, and 26.24 baht for diesel.

The price of crude oil in Dubai currently stands at $61.41 per barrel. Meanwhile in Singaporean market, benzene 95 is priced at $66.26 per barrel. Diesel price stands at $ 77.53 per barrel. The factor which has caused oil prices to decline is the news reported that Iran will continue to export its oil and it will not use the fuel issue to negotiate with its political turmoil.

Source: Thai National News Bureau Public Relations Department - 13 September 2006

[Jai Dee]

Bangchak, PTT and Shell to reduce diesel price by 50 satang per liter tomorrow

Bangchak, PTT, and Shell will reduce the diesel price by 50 satang per liter, starting tomorrow (16/09/06) at 5 AM.

Mr. Manoon Siriwan (มนูญ ศิริวรรณ), the Deputy Managing Director of Bangchak, said the price of diesel in the Singaporean market has reduced by USD 1 per barrel last night, and oil distributors in Thailand have later decided to adjust their diesel price as well.

He disclosed that benzene prices in the Singaporean market have increased but oil traders have not decided to adjust them for now. He said there is a tendency for benzene prices to reduce within one month as the demand for using benzene during the winter season has not increased.

He said the amount of oil stocked in the United States of America is deemed enough. However, the nuclear problems in Iran are not the factors that cause changes to the global oil prices.

Mr. Manoon added that he is concerned about the adjustment of the global oil prices. He said it will affect the usage of alternative energy such as gasohol, and people will decrease the usage of alternative energy. He said the market value of gasohol in the country is likely to decrease as the prices of benzene, which is used to produce gasohol fuel, would be reduced. However, the price of ethanol used for producing gasohol will remain unchanged.

Source: Thai National News Bureau Public Relations Department - 15 September 2006

[astral]

Bangchak, PTT, and Shell will reduce the diesel price by 50 satang per liter, starting tomorrow (16/09/06) at 5 AM.

Which will still leave gasolene as more expensive that deisel.

Meanwhile in Singaporean market, benzene 95 is priced at $66.26 per barrel. Diesel price stands at $ 77.53 per

Which just goes to show that fuel prices on the street have little to do with production costs!!

[Jai Dee]

Diesel price to be reduced by 40 satang per liter tomorrow

Bangchak, PTT, and Shell will reduce the diesel price by 40 satang per liter, starting tomorrow (19/09/06) at 5 AM.

Oil traders have decided to adjust the price of diesel due to the decrease in oil prices in the Singaporean market from $73 to $72 per barrel last Friday. Meanwhile, benzene prices remain unchanged.

Another reason is that Vietnam and Indonesia have also reduced their purchases in diesel.

Bangchak, PTT, and Shell view that there is a possibility for the diesel price to drop further within the next few days.

Source: Thai National News Bureau Public Relations Department - 18 September 2006

[Jai Dee]

PTT and Bangchak reduce its fuel prices by 40 satang per liter tomorrow

Bangchak, PTT, and Shell will reduce all fuel prices by 40 satang per liter, starting tomorrow at 5:00 hours.

The retail prices of oil will be adjusted again tomorrow, causing all oil prices in Bangkok and vicinities to reduce as follows; benzene 95 at 25.99 baht per liter, benzene 91 at 25.19 baht per liter, gasohol 95 at 24.49 baht per liter and diesel at 24.94 baht per liter.

Source: Thai National News Bureau Public Relations Department - 22 September 2006