Thai Oil Traders Cut Gasoline Prices

Thai oil traders cut gasoline prices

BANGKOK, Nov. 30 (Xinhua) — All local oil traders have decided to reduce gasoline and gasohol prices by 0.40 baht (1 cent) per liter upon a continued decline in global fuel prices, but remain the diesel price unchanged, Thai News Agency reported Wednesday.

Effective at 5:00 am on Nov. 30, the prices of premium and regular gasoline, as well as gasohol in Greater Bangkok drop to 24. 84, 24.04 and 23.34 baht (62 cents, 60 cents and 58 cents) per liter, while the diesel price remains unchanged at 22.72 baht (57 cents) per liter.

Chaivat Churitti, senior executive vice president of PTT’s Oil Business Group, said on Tuesday that the fuel prices were set to reduce at 5:00 am on Wednesday because the Internal Trade Department made a written request for oil traders to announce the price change 12 hours in advance to facilitate an official check of selling prices at service stations.

He said the latest price cut stemmed from the weakening of crude prices on the world market, resulting in gasoline prices in Singapore declining to 57.64 US dollars per barrel.