Oil and fuel prices: a response from PTT
Re: "Oil price is falling, so why aren't motorists benefiting?", Letters, October 22.
Thank you for your observation of local oil price movements. However, oil pricing in each country has a different structure and so prices cannot be compared directly.
Over the last four months, while the price of unleaded gasoline (95 Ron) in the Singapore market – which is the reference for retail prices in our region – has dropped by 24 per cent, from US$129.37 a barrel to $97.91, retail gasohol 95 octane in Bangkok has dropped 12 per cent from Bt40.73 to Bt35.80 per litre. Moreover, there were also adjustments in the oil fund collection, for example from Bt3.30 to Bt4.15 for gasohol 95.
In Thailand, the retail oil price includes taxes and funds used by the government to stabilise that price in the country. This is beyond PTT’s authority. Also, we have to take in account that the oil quality standard of Thailand is EURO IV, which increases the oil price.
PTT Corporate Communications
