Oil retailers will slash pump prices of all fuel products by 50 satang per litre on Wednesday 17 September 2008, due to the recently decline in global oil prices following the collapse of US investment bank Lehman Brothers.
Lehman's bankruptcy indicated that the worst is not yet over for the US financial crisis. And as the spillover effect is expected, the global economy could be reeling from the crisis and hence the oil demand could be dented.
After the cut, octane-91 petrol would cost Bt35.79 per litre while gasohol 91 at Bt27.49. Diesel would then be Bt31.34.
On Tuesday 16 September 2008, Dubai crude oil dropped to US$92.04, down $3.21 from the previous day. Refined petrol price also fell $4.17 to $105.40 a barrel while refined diesel by $1.96 to $115.36.
Petrol prices have fallen collectively Bt10.90 per litre since July while high-speed diesel price also dropped as much as Bt12.90 in the same period.
Summary
Oil retailers will slash pump prices of all fuel products by 50 satang per litre on Wednesday 17 September 2008, due to the recently decline in global oil prices following the collapse of US investment bank Lehman Brothers.
In Thailand, petrol prices have fallen collectively Bt10.90 per litre since July 2008 while high-speed diesel price also dropped as much as Bt12.90 in the same period.
Comment
1. This is the best news for people because the petro prices will trend to decline prices. It’s good for in the transportation industry.
2. The primary cause that the petro prices fall down is following the collapse of US investment bank Lehman Brothers. I think that the cause may be treat lightly. We have to looking forward to seeing the other factors in the future.
3. In the household, the petro prices have fallen down. It’s make our feel save the money for all expenses because the all expenses depend on the price of petro.
4. The global economy could be reeling from the crisis and hence the oil demand could be dented.
5. Besides the Lehman Brothers id the primary factor to be decline the petro prices. I think that have more factors such as the Meriil Lynch, the AIG Group.
Mr. Siripong Cheunsuksan ID.1500213622 No.34
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