Diesel price reaches historic highest level in new fuel pric

[Norseman]

BANGKOK, March 4 (TNA)

Local oil traders have announced a new price hike by Bt0.30 per litre for gasoline and by Bt0.40 per litre for diesel, which makes the domestic diesel price reach its historic highest level so far.

Given the new move, the retail prices of premium gasoline, regular gasoline and premium gasohol in Bangkok and its surrounding provinces stand at Bt26.74 per litre, Bt25.94 per litre and Bt25.24 per litre respectively, effective from 05:00 a.m. on March 4.

The retail price of diesel reaches Bt25.09 per litre, hitting its historic highest record level so far.

Chaivat Churitti, Senior Executive Vice President of PTT Public Company Limited (PTT), told journalists here on Friday that continuing global oil price rises over the past days had forced all the local oil traders to, by no means, raise the fuel prices again, as their marketing margin had declined to a lower level.

Unrest concerning hostake taking of oilmen in Nigeria, as well as news reports on planned sabotages in the Middle East and temporary closure of many oil refineries in Asia for maintenance were key factors behind the continuing global oil price hike, he pointed out.

A decision on new oil production quota of the Organization of Petroleum Exporting Countries (OPEC) at its next meeting on March 8 would be another key factor to affect the global oil prices, Mr. Chaivat said, adding that local oil traders are keeping a close watch on the global oil price direction.