Diesel price to be cut
PTT Plc will tomorrow cut its retail diesel price by Bt1 per litre to Bt26.29, on the same day the contribution it must pay to the Oil Fund is cut by a similar amount.
President Prasert Bunsumpun expects other retailers to follow suit, though they are still operating in the red. "The marketing margin could be adjusted later. We're reducing the price on the same day for transparency reasons. If retail prices remain at this level despite the cut in the contribution, there could be criticisms that oil retailers are making a profit from this," he said. Yesterday, the special Cabinet meeting approved the Bt1 cut in diesel-sale contributions to the oil fund from Bt1.95 to Bt0.95 per litre to ease the impact of higher prices. The contribution from petrol sales was maintained at Bt2.50 per litre. Deputy Prime Minister Chidchai Vanasatidya, who is the acting premier, said the Cabinet was also informed of the special prices for farmers, coastal fishermen and buses. Farmers and buses can buy diesel at Bt1 lower than the market price, while coastal fishermen are offered "purple" diesel, which is Bt2 per litre cheaper than the market price. Energy ReportersThe Nation
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