Thailand – Urgent talks as diesel tops $127

The Energy Ministry is seeking an urgent meeting with the National Energy Policy Council to address the sharp spike in diesel prices, after refined diesel hit US$127.08 a barrel yesterday.

Energy Minister Poonpirom Liptapanlop said the 90-satang-per-litre subsidy, approved on Wednesday, would provide temporary relief but the domestic retail price would follow the global trend.

“Still, I don’t believe that diesel will be as high as $150 a barrel as expected,” she said.


PTT president Prasert Bunsumpun said the company would consider if its pump prices must be raised again in one or two days, after petrol and gasohol prices were hiked by 50 satang yesterday. Diesel could go up by 40-50 satang, despite the 90-satang subsidy.

PTT has shouldered a loss of over Bt1 billion from its retail oil business since last month, as it has tried to delay price hikes on the back of soaring global oil prices.

The Nation (Thailand)