Oil prices drop while gas prices rise in Thailand

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BANGKOK, 18 November 2014 -The Energy Policy Committee has come up with a resolution to lower benzene and gasohol fuel prices down by another 60 satang today after world oil prices have declined continuously.

Energy Minister Narongchai Akkaraseranee revealed that the committee has adjusted the oil prices in Thailand in compliance with the market mechanism. Oil retailers, therefore, have been requested to lower down the prices of benzene and gasohol by 60 satang a liter. However, prices of Gasohol E85 and diesel will stay the same.

Although the committee agreed to allocate 60 satang more to every liter of diesel sold to the Oil Fund, it has assured that such action would not affect retail diesel prices. Diesel oil prices will continue to be sold at 29.39 baht per liter.

On the other hand, the committee agreed to raise LPG prices to reflect their actual costs in the market. LPG prices in the household and transport sector are set to be increased by 50 satang per kilogram from 22.63 baht to 23.13 baht, effective today.