July 3, 2008
Bangkok - Academics called on PTT Plc to cut down its refining margin which is quite high and does not reflect the real price.
Praipol Kumsap, professor at Thammasat University’s Faculty of Economics, and NIDA’s professor Theerapong Wikitseth agreed the refining margin was too costly.
The cost of diesel oil is normally higher than the cost of gasoline.
Senator Rosana Tositrakul revealed Thailand now has seven oil refineries. Five refineries belong to PTT while two others own the rest.
Thailand imports one million barrel per day. 700,000 barrels are for domestic consumption while 300,000 barrels for export.
Rosana said it was not fair to rely on the Singapore’s price, disagreeing to the floated LPG price.
The government was also urged to build a nuclear plant to cope with the energy problem.
