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| Gasohol, Diesel Prices Lowered Today |
| UPDATE : 9 February 2010 |
Oil retailers reduce selling prices of gasohol 91 by 70 satang and diesel by 50 satang, effective today, while overseas crude goes up slightly following cold weather patterns in the northeastern region of the United States.
The retail prices for gasohol 91 and diesel were lowered by 70 satang and 50 satang respectively.
The change came into effect since this morning in response to declining oil prices in the global market throughout last week.
Therefore, gasohol 91are currently distributed at 31 baht 24 satang a liter, diesel at 27 baht 59 satang, and bio-diesel at 26 baht 39 satang. Prices of gasoline and gasohol 95 remained unchanged.
PTT Assistant Managing Director for retail marketing Wittaya Wangjitrarak stated that during a fall in crude oil prices, the Committee on Energy Policy Administration had adjusted the pump price contribution to the State Oil Fund in order to widen the spread of selling prices of gasohol 95 and 91 from 80 satang a liter to 1 baht 50 satang a liter.
The government wants to attract motorists into filling their tanks with gasohol 91.
Wittaya insisted that the local oil prices always move in tune with the world market.
However, price changes could also be affected by the implementation of state policies as well.
On Monday, light, sweet crude oil future contracts for March delivery rose 70 cents to settle at 71.89 US dollars a barrel on the New York Mercantile Exchange.
Investors expected higher petroleum demand after cold weather hit the northeast of the US. They are also worried about tension over Iran's nuclear program.
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