Oil prices expected to go down tomorrow

[webfact]

Oil prices expected to go down tomorrow



BANGKOK: -- Oil prices will be slashed again tomorrow as the market value of both diesel and benzene remains high.

The National Energy Police Commission is meeting today to consider the high market value after global crude oil prices continue to decline, thus pushing up market values of fuels in the country.

Market value of diesel is now high at 1.90 baht, while benzene at over 2 baht.

The commission will consider slashing the market value, thus will result in the reduction of retail oil prices tomorrow.

Source: http://englishnews.thaipbs.or.th/content/150539


-- Thai PBS 2016-02-11

[thesetat2013]

Good if they can fuel prices again. Currently it takes me 1500 baht to fill my truck whereas last year I was paying 2000'.

[heybruce]

Why not let the market determine the price of fuel and restrict the National Energy Police Commission to ensuring the quality of the product sold (no watered down fuel) and the accuracy of the measurement?

[bark]

Why not let the market determine the price of fuel and restrict the National Energy Police Commission to ensuring the quality of the product sold (no watered down fuel) and the accuracy of the measurement?

Market ? Sorry no can do. There is too much money to be made by oil companies. Thailand is a net importer of oil. We do have oil here; but not enough to meet the current supply.

[Emster23]

Thought of the song "If tomorrow never comes.... "

[thenewgoo]

Hooray! Some good news to read.

[ToS2014]

perhaps this is good news for all the rig monkeys

[mogy]

perhaps this is good news for all the rig monkeys

eh ?

[ajarnmarc]

Amazing

Something to look forward to,

the next time I fill up.

Unfortunately this will only allow the kids to scoot around even more on their parents mopeds,

without a license, as the price declines on the fuel.

[hhinhh]

Why not let the market determine the price of fuel and restrict the National Energy Police Commission to ensuring the quality of the product sold (no watered down fuel) and the accuracy of the measurement?

Market ? Sorry no can do. There is too much money to be made by oil companies. Thailand is a net importer of oil. We do have oil here; but not enough to meet the current supply.

Thinking of Kim and Fidel, sounds like bringing more equality but surely creates bureaucracy (often followed by corruption) and in the end poverty. Seen often enough in history.

[heybruce]

Why not let the market determine the price of fuel and restrict the National Energy Police Commission to ensuring the quality of the product sold (no watered down fuel) and the accuracy of the measurement?

Market ? Sorry no can do. There is too much money to be made by oil companies. Thailand is a net importer of oil. We do have oil here; but not enough to meet the current supply.

Thinking of Kim and Fidel, sounds like bringing more equality but surely creates bureaucracy (often followed by corruption) and in the end poverty. Seen often enough in history.

Is the Thai government subsidizing fuel or simply telling the oil companies what they can charge?

If they are subsidizing fuel they are primarily benefiting rich people who drive gas guzzlers.

If they are mandating prices then the government is micromanaging businesses. I won't attempt to summarize the number of ways that can go wrong.