Petrol pump prices go up 50 satang tomorrow

Oil retailers will tomorrow raise pump prices for all petrol products by 50 satang a litre while maintining diesel price thanks to another cut in the Oil Fund levy on diesel products.

PTT said in a statement that global oil prices are heading up, following the decision of central banks in Europe and China to lower key rates and boost liquidity. Plus higher demand from Asian countries, Dubai crude oil today rose to US$98.04 per barrel. Refined petrol and diesel in Singapore went up by $3.33 per barrel (Bt0.66 a litre) and $2.49 per barrel (or Bt0.50 a litre), respectively.

According to Saran Rangkasiri, senior executive vice president of PTT, the increases pressure retailers’ marketing margin. The margin of petrol products is now Bt0.99 per litre and that of diesel is Bt0.92.

Today, the Energy Policy Administrative Committee decided to cut the Oil Fund levy on diesel products by 30 satang per litre, to delay an increase in retail prices. This the second reduction in one week.

From tomorrow, diesel price will remain under Bt30 per litre.