PTT sees fuel prices bottoming out, on the rise

[webfact]

PTT sees fuel prices bottoming out, on the rise

BANGKOK, 24 May 2016 (NNT) – PTT Plc. has said it believes fuel prices have bottomed out and will soon begin to rise while announcing higher profits during the first quarter of this year.

PTT President Thewin Wongwanich has given his view that fuel prices will move up this year but only in a narrow range of 35-40 US Dollars per Barrel. He stated that in the short term fuel prices will be volatile due to Dubai crude bottoming out at 31 US Dollars per Barrel, 40 percent down from the end of last year, but pointed out supporting factors would come from the US drawing down production and many companies stepping up surveys for new sources. He expects oil to gradually ascend to 50-60 US Dollars per Barrel over the next 2-3 years.

On PTT’s performance in the first quarter of this year, the company achieved revenue of 386.940 billion baht with net profit of 23.669 billion baht, up 1.85 billion baht or 4.8 percent year-on-year. With the rising price of oil, the company is now focusing on reducing other expenses to weather a volatile market.


-- NNT 2016-05-24

[Class C]

I think the deflation genie is more powerful than many suspect.

Oil is the red line and base metals the blue line. Who will catch up (or catch down) to who ?

I reckon red will follow blue.

[BuaBS]

Diesel is already 10 % up from the low 3 , 4 months ago.

[BSJ]

Diesel is not cheap here. It's now 25.8 baht/L at the pump! Cheap would be less than 20 baht/L.

[Bullie]

Stop whining. You would pay twice that for a liter in Holland, on top of a hefty roadtax of 5000 baht per month. A month, yes. You are reading it correctly.