Despite this. Some pump prices were expected to drop this morning thanks to lower oil prices on international markets.
Energy Minister Pongsak Raktapongpaisan said after a meeting yesterday of the Energy Policy and Planning Committee that the levies were increased in an effort to cut back the SOF’s deficit of B15.49 billion.
He said after today’s levy increase, the oil fund’s loss would be reduced from B50 million a day to B21 million.
Despite this, he noted, there was still room for oil traders to cut pump prices by 20 satang a litre for petrol and other kinds of gasohol, while the prices of gasohol E20 and diesel could be remain unchanged.
PTT Plc, the country’s largest oil conglomerate, expects global oil prices to fall further over the next few months as winter ends in the US and Europe, resulting in a sharp decline demand for oil.
The fragile economies of Europe and the US were other factors that brought down global oil prices, PTT said.
PTT and Bangchak Petroleum announced yesterday afternoon that they would cut pump prices for petrol by 20 satang a litre, effective from midnight.
The new retail prices at PTT and Bangchak’s outlets in Bangkok and nearby provinces this morning were B48.75 for gasoline 95, B40.33 for gasohol 95, B37.88 for gasohol 91, B34.88 for E20 gasohol, and B23.18 for E85 gasohol.
These new prices are expected to spread out across the country in coming few days.
The price of diesel remains unchanged at B29.99 a litre.