June 3, 2008
Bangkok - PTT Plc has no policy to reduce its oil prices now though the crude oil price in the Middle East dropped a little.
Prasert Boonsampan, president of PTT Plc, said PTT would maintain its retail oil prices during this time.
The price cuts might be possible if the finished crude oil price in Singapore fell to 150 US dollars per barrel.
Prasert said PTT’s oil prices are two to three baht cheaper than the before-refinery prices.
He also said the soaring inflation rates in Asian region would add pressure to the regional economy.
Many units worldwide are afflicted by the rising energy prices, and several governments questioned if they were overpriced.
As a result, the profit takers would sell off oil which might lead to fast-dropping oil prices in the future.
It was reported the smuggled oil from Malaysia entered Thailand after the Malaysian government did not allow foreign car drivers to use its petrol station’s service.
