PTT, Shell, cut fuel prices by B0.40

THAILAND: Thai petroleum giants Shell and PTT today announced that they have both dropped fuel prices by 40 satang a liter.

In a press release, Chaivat Churitti, Senior Executive Vice President of the Oil Business Group of PTT, explained that average prices of oil on world markets had fallen recently, and PTT had therefore decided to lower retail prices of all products by 40 satang a liter, effective from 5 o’clock this morning.

PTT prices in Bangkok and its suburbs are now as follows, the press release added: 95-octane gasoline 26.84 baht/liter; 95-octane gasohol 25.34 baht/liter; 91-octane gasoline 26.04 baht/liter; Diesel 24.29 baht/liter; and palm-oil diesel 23.79 baht/liter.

K. Chaivat warned, however, that fuel prices could easily rise again.

Factors that could push up the price of oil, he said, include the escalating argument between Iran and Western countries over Iran’s revival of its nuclear program, and the expectation of prolonged turmoil in Nigeria. Both Iran and Nigeria are major producers of oil.

Promsin Suppokekul, Manager for all Shell gas stations in Phuket, told the Gazette today that fuel prices outside Bangkok will be higher than in the capital, depending on where the fuel is sold.

However, he added, “The prices [in Phuket] will not be more than one baht a liter higher than the prices in Bangkok.”