EPPO: Benzene prices dips further this morning

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BANGKOK, 10 Dec 2014, The Energy Policy & Planning Office (EPPO) has ordered state-owned oil retailers and refineries PTT Plc. and Bangchak Plc. to reduce their Benzene prices by 40 satang beginning this morning. 

Minister of Energy Narongchai Akkaraseranee made the announcement yesterday after a meeting with the EPPO, during which a 20-year Power Development Plan (PDP), generally known as PDP 2015, was also discussed. According to the Minister, the long-term plan focuses on natural gas consumption reduction and coal power promotion as means to create national power security.

Regarding the energy price structure, he said measures would be taken to ensure that the prices of Benzene and Diesel products are in the same range through oil fund and excise tax mechanism.

The Minister said the plan would be discussed again next week at the meeting with the EPPO board. The meeting also ordered PTT and Banchak to reduce the prices of Benzene products by 40 satang per liter. The price reduction already took effect as of 5 am. today.