Thailand News

Breaking news headlines

Thai retail fuel could reach THB50 per liter if global crude prices continue to rise

1 min read
Breaking News

Breaking News. Image: GoodManPL (Pixabay).

BANGKOK, 26 February 2012 (NNT) – The continued increase in global oil prices may soon drive Thailand’s retail fuel prices to hit the THB50-a-liter level, according to the country’s energy planning agency.

Energy Policy and Planning Office (EPPO) Director-General Suthep Liumsirijarern commented that global oil prices are expected to reach a new high of US$150 a barrel this year, compared with the 2011 record high of US$147.

EPPO’s forecast of more expensive oils was made, even after it has taken into account the likelihood that no war will break out in the Middle East in 2012.

However, other factors, including the halt at Japan’s Fukushima Nuclear Power Plant as a result of the March 2011 massive quake and tsunami, the easing unemployment problem in the US and a likely rise in the US demand for fuel during the summer holiday, can still force global oil prices up.

Mr. Suthep stated that EPPO believes local fuel prices may surge to as high as US$50 per liter soon.

Read more: NNT

Leave a Reply

Copyright © 2021 Thailand News. The content of this website does not necessarily reflect the opinion of Thailand News. All photos and articles are copyright to their respective owners.