Bangkok--14 May--PTT
Mr. Chaivat Churitti, Senior Executive Vice President of Oil Business Group — PTT Public Company Limited (PTT), revealed that the situation on high fluctuation of global oil prices has continued due to the growing tension in Nigeria in advance of Mr. Umaru Yar’Adua to officially stepping up to take the post as the new President on May 29, 2007. The recent attack on the oil transmission pipelines by the guerrilla band, the bomb thread, and the 4 American being taken hostage in Nigeria as well as the oil reserves plummet by 1.02 million barrels to 8.36 million barrels as of May 9 this year or the lowest level in six weeks reported by the International Enterprise Singapore have triggered concerns on oil disruption. Heavy market fluctuation due to supply disruption was also fuelled by the report of Barclay on higher demand forecast of gasoline by the US in May at 9.344 million barrels per day (0.063 million barrels per day higher than April) and the fear over the forecast made by Accuweather that there would be totally 13 hurricanes that hit the Atlantic Ocean this year.
Amid various factors that put heavy pressure on oil prices, PTT has to consider the upward revision on retail prices of gasoline by 40 satang per liter while gasohol prices remain unchanged due to the government’s decision to reduce the amount collected by the oil fund from Baht 1 per liter to only Baht 0.60 per liter. As the result, by 05.00 hour of May 12, 2007, the retail oil prices in Bangkok and the nearby provinces will be as follows:
Unit : Baht/Liter
Gasoline PTT Alpha X 95 29.99
Gasoline PTT Gasohol 95 Plus 26.69 (Baht3.3 cheaper than Gasoline 95)
Gasoline PTT Alpha X 91 29.19
Gasoline PTT Gasohol 91 Plus 26.39 (Baht2.8 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)
PTT SEVP said despite the upward revision on gasoline prices by 40 satang per liter which caused the gasoline prices to almost reach Baht 30 per liter, the prices of PTT Gasohol 91 and 95 Plus still remain unchanged at Baht 26.39 and Baht 26.69 per liter or Baht 2.80 and Baht 3.30 per liter respectively. Therefore, PTT would like to urge the motorists whose automobile was manufactured in 1995 or later turn to Gasohol 91 and 95. By doing this, it does not only help the country to save its foreign imports of oil but also save one’s expenditure. Thus, as of May 11, 2007, Dubai Crude was US$62.51 per barrel, Gasoline (Singapore) at US$87.78 per barrel and Diesel (Singapore) at US$80.22 per barrel.
Tel. 0 2537 2571, 2538 PTT Public Relations Division Oil Business Group
Fax. 0 2537 2572, 2517