Bangkok--2 May--PTT
Mr. Chaivat Churitt, Senior Executive Vice President of Oil Business Group — PTT Public Company Limited (PTT), revealed that the current high fluctuation of global oil prices due largely to the rapid drop of the US Oil Reserves since February by 15% to 194.2 million barrels which is 6% lower than its 5-year average amid the temporarily shutdown of oil refineries, the political tension in Nigeria, and the ongoing dispute of Iranian nuclear program are the main factors to push up global oil prices, especially the skyrocketing of the Unleaded Gasoline (ULG) 95 that reached US$87.12 per barrel (as of May 2, 2007).
PTT SEVP said the continuous rise in the global oil prices has pushed great pressure toward operating costs of the retail operators in Thailand and led the marketing margin to hit floor at 0.00 baht per liter or zero margin. As a result, PTT has to consider the upward revision on retail prices of gasoline by 40 satang per liter (only on Gasoline PTT Alpha X 91 and 95 and exclude gasohol, diesel and bio diesel), effective by 05.00 hours of May 3, 2007. As the result, the retail oil prices in Bangkok and the nearby provinces will be as follows:
Unit : Baht/Liter
Gasoline PTT Alpha X 95 29.59
Gasoline PTT Gasohol 95 Plus 26.69 (Baht2.9 cheaper than Gasoline 95)
Gasoline PTT Alpha X 91 28.79
Gasoline PTT Gasohol 91 Plus 26.39 (Baht2.4 cheaper than Gasoline 91)
High Speed Diesel PTT Delta X Euro III 25.34
PTT Bio Diesel / Palm Diesel 24.64 (70 Satang cheaper than Diesel)
Mr. Chaivat said the good news is that the gasohol prices remain unchanged due to the cost of the ethanol (which blended 10% with gasoline) does not change at 18.62 baht per liter (a minimal decreased from the previous level of 19.33 baht per liter). Therefore, PTT decides not to raise the prices of gasohol despite the fact that the market margin of gasohol is also very low. As the result, retail prices of gasohol 91 and 95 are lower than the revised gasoline 91 and 95 by 2.4 baht and 2.9 baht per liter respectively (compared to the previous level which cheaper than gasoline by only 2 and 2.5 baht respectively). Thus, PTT would like to urge motorists whose automobile is manufactured in 1995 or later to use gasohol 91 and 95 in order to help the country to save its foreign currencies.
For more information please contact:
PTT Public Relations Division Oil Business Group
Tel. 0 2537 2571, 2538
Fax. 0 2537 2572, 2517