Prices of three categories of products already lowered due to cheaper oil

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BANGKOK, 20 January 2015 – Prices of three categories of goods, of which manufacturers have benefited from the drop in oil price, have already been lowered, according to the Department of Internal Trade.

Department director-general Boonyarit Kalayanamit said on Monday the three categories included lubricants, plastic beads and construction materials. PTT has lowered its prices of lubricants by 2-5%, and prices of the remaining manufacturers are expected to be reduced by early February. Plastic beads have become 3.85-7.70% cheaper, according to Mr. Boonyarit. Cement prices have dropped by 2-4%, roof tile prices by 5-7%, steel bars by 1,500-2,000 baht per ton, metal sheets by 1,000-1,500 baht per ton, and structural steel by 1,000-1,200 baht per ton.

Mr. Boonyarit disclosed further that chemical fertilizer manufacturers have promised to lower prices of 50-kilogram bags of fertilizer by 10-30 baht. He also assured that there will be no shortage of palm oil, and each liter will retail for no more than 42 baht.