Oil price is falling, so why aren't motorists benefiting?
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The market price for oil has fallen 20 per cent in the past four months. When prices rise at the pumps we are told that the oil companies are merely following world market prices.
Yet now, amid falling prices, motorists are still having to pay practically the same price as four months ago (minus a measly reduction of 60 satang last week). In the US the people pay less than $3 per gallon of fuel, or about Bt20 per litre. Take into account purchasing power parity, and in Thailand we pay about 12 times more at the pumps. Then consider that the US is a developed country while Thailand is still “developing”. An explanation from a PTT spokesman would be welcome but I’m not holding my breath for a response.
Egon
