Retailers raise oil prices

After the increase, octane-95 petrol will be priced at Bt34.59 per litre, while diesel will be at Bt31.44.

An oil retailer said earlier on Friday that domestic prices may rise next week, due to the decreasing marketing margins after global prices are heading up again. The marketing margin for petrol is now Bt1 per litre, while diesel's is 40-50 satang per litre.

 Global oil prices resumed the upward trend after the explosion of pipeline in Iraq, which would reduce Iraq's supply from 1.56 million barrels to 1.2 million per day.

 Oil futures on Friday stood at US$106.50 a barrel in Singapore trading. The contract rose US$1.68 to settle at US$107.58 a barrel on Thursday.

 Refined petrol was up $4.12 a barrel on Thursday to $113.68, while diesel up $4.92 to $130.05. Dubai crude oil was at $98.28, up $2.65.

- The Nation