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Concerns over high margins send prices of oil shares downward in Thailand.
Aug. 6--Remarks by Prime Minister Thaksin Shinawatra yesterday that oil refining margins should be cut caused energy stocks to fall yesterday on the Stock Exchange of Thailand on investor fears of impending government price intervention.
Refining margins now are at relatively high levels, thanks to the economic recovery and soaring global oil prices.
Mr Thaksin said the government wanted to ensure that margins were fair. "The government will have to step in to make it fair to all. This should not be seen as government interference, but rather a move to prevent the public from suffering from excessive refining margins."
PTT Plc shares fell three ...
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Source: HighBeam Research, Concerns over high margins send prices of oil shares downward in...