PTT Plc, the national oil and gas conglomerate, has decided to scrap its 10-billion-baht investment plan for the second unit of the depot facility for imported liquefied petroleum gas (LPG) in Chon Buri due to falling domestic demand.
This was due largely to the government's policy to float the price of LPG last year to reflect real market prices.
The retail price of LPG was fixed at 18.13 baht per kilogramme for almost a decade before the government started floating the price in October 2014, causing the price to rise to 22.96 baht per kg and prompting motorists who used LPG for the transport segment to switch back to oil.