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Thai Commerce Ministry Urges Oil Producers to Keep Costs Down.
Byline: Wichit Sirithaveeporn
Oct. 1--The Commerce Ministry has urged local producers not to use rising petrol prices as an excuse to raise the prices of their products.
Deputy Commerce Minister Newin Chidchob said price increases would be difficult to justify unless petrol prices reached 17.50 baht per litre, about two baht higher than the current level.
Despite high oil prices, companies calculating production costs would also have to take into account interest rates, which were currently lower than during the 1970s oil crisis, and foreign-exchange rates, as the baht was strengthening against the US dollar, he said.
He warned that if ...
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Source: HighBeam Research, Thai Commerce Ministry Urges Oil Producers to Keep Costs Down.