Motorists face higher fuel prices at pumps
Published: 8/05/2015 at 03:30 AM
Newspaper section: Business
Retail fuel prices are expected to rise gradually in line with recovering global oil prices after the Energy Policy Administration Committee (EPAC) agreed to keep the levy to the state Oil Fund unchanged and allow retail prices to move freely.
Energy Minister Narongchai Akrasanee said EPAC yesterday agreed to float retail prices of petrol and diesel with no further subsidy or levy cut to help absorb the rises.
"Global oil prices are likely to revisit a rising trend after collapsing for almost a year, but prices are unlikely to rise beyond $US100 a barrel," he said.
Around a week ago, diesel prices at Mean of Platts in Singapore rose by $2.85 per barrel and petrol rose by $2.23 to move in a range of $80-85. Dubai crude oil rose by $3 to above $60 per barrel.
EPAC is keeping the levy to the Oil Fund unchanged at 30-60 satang per litre.
Shell Co of Thailand has increased its retail prices by 60 satang per litre starting from yesterday morning due to rising costs.
In the power consumption sector, the Electricity Generating Authority of Thailand (Egat) yesterday reported a new record high of power demand, which reached 27,198 megawatts at 2.23pm, surpassing the previous record of 27,139 MW on the afternoon of April 21.
Egat estimates power consumption will hit a new record high of up to 27,500 MW later this month.
About the author
columnist Writer: Yuthana Praiwan
Position: Business Reporter
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