July 7, 2008
Bangkok - An energy expert Mr. Manoon Siriwan revealed the retail oil prices at home are likely to rise one or two more baht if the world oil prices do not drop.
Funds in the stock and monetary market were invested on commodities for profit-taking due to weakened US dollar currency.
It is possible the world crude oil prices will reach 150 US dollars per barrel within one or two weeks.
As a result, Thailand’s diesel prices can be up to 48-49 baht per litre.
The energy ministry’s 0.90-baht-per-litre subsidization of diesel oil price will expire at the end of July.
If the ministry does not extend the subsidization, the diesel prices will surely hike at least 0.90 baht.
The oil expert believes the energy ministry will subsidize the diesel prices further.
But he said 0.30 baht per litre should be added to the Oil and Energy Conservation Fund.
Manoon considered the government’s energy policy appropriate, calling for the more austere energy saving measures to cope with soaring energy prices in the future.
