October 1, 2008
Bangkok - All oil traders reduced the prices of all kinds of fuel oil this morning. As a result, Gasoline 95 price remained at 37.59 baht per litre while diesel price at 30.14 baht per litre.
The gasoline 95 price in Singapore decreased 7.06 dollars per barrel last night while diesel oil price fell 7.67 dollars per barrel.
However, the crude oil price in New York increased more than 4 dollars per barrel to reach over 100 dollars again.
An oil expert Manoon Siriwan estimated world oil prices tended to be steady and fall continually during 1-2 months.
The price should not rise over 110 US dollars per barrel.
Most investors were worried about the US financial crisis and sold off for profit taking in the oil market.
They turned to invest in the debt instruments instead.
Big countries like China and India began to cut their oil imports because of concerns over world delayed economy.
The Thai stock market opened six points higher this morning in line with foreign stock markets.
Investors expected the US Congress would eventually approve a bailout plan to rescue the financial sector soon.
