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PTT agrees to reduced margins to help sustain pump petrol prices.
Byline: Ploy Chitsomboon
Jun. 2--PTT Plc, the country's largest oil-and-gas conglomerate, will freeze domestic petrol prices and accept shrinking margins in the face of rising global oil prices.
President Prasert Bunsumpun said retail prices would be left unchanged, even as refinery margins were already at tight levels.
"Yes, holding prices against the trend will affect costs. Our refinery margins are already less than one baht per litre," he said. "But we'll take care of the burden ourselves. Still, margins would typically be over one baht per litre."
Oil prices in the global market yesterday rose above $52 to the barrel in Singapore ...
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