BANGKOK, 19 March 2011 (NNT)-Several private oil retailers have decided to raise benzene and diesel prices by 50-80 satang per liter earlier today following concerns over the unrest in the Middle East which has also prompted prices of crude oil in the global market and refined oil in Singapore to rise.
Esso Thailand PLc. Ltd is now selling benzene and diesel by 80 and 50 satang higher respectively while diesel price is sold at 30 baht per liter at Caltex. Meanwhile PTT and Bangchak are expected to increase their benzene and diesel prices by 50 and 10 satang per liter respectively.
However, the new prices have now reached the government’s subsidized price; therefore, the Energy Ministry is expected to discuss further funding scheme to keep it below 30 baht per liter which could possibly be the subsidy of 50 satang per liter.
Meanwhile, despite the temporary ceasefire in Libya, the prices of crude oil remain higher than 100 US dollars per barrel. Refined oil prices have also been spiked by the news of nuclear reactor explosions in Japan and increased demand.
