Bangkok Post
Thai fuel prices to stay high until Q4
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Domestic oil prices in Thailand are expected to remain elevated until the final quarter of this year, even though global crude benchmarks have eased and the US is set to sign a peace deal with Iran this Friday to end nearly four months of conflict in the Middle East.
Key facts
- Global crude prices have slipped, with Brent crude standing at US$90 on June 12, down from highs of $102–$116 in early March, according to Capital.com, a fintech and trading platform.
- Domestic oil prices in Thailand are expected to remain elevated until the final quarter of this year, even though global crude benchmarks have eased and the US is set to sign a peace deal with Iran this Friday to end nearly four months of
- An Energy Ministry official, speaking on condition of anonymity, warned that Thai motorists will continue to face high costs at the pump despite international developments that could stabilise oil markets.
- The latest forward price for diesel for October delivery is still at $100 per barrel, indicating that prices will remain high until October,"
- Excise, municipal and value-added taxes account for roughly 30% of retail prices, while refining costs make up the remaining 70%, he said.
Summary
An Energy Ministry official, speaking on condition of anonymity, warned that Thai motorists will continue to face high costs at the pump despite international developments that could stabilise oil markets.
Global crude prices have slipped, with Brent crude standing at US$90 on June 12, down from highs of $102–$116 in early March, according to Capital.com, a fintech and trading platform.