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PTT: Diesel, petrol prices have to rise.
Byline: Yuthana Praiwan
Jun. 4--Diesel and gasoline prices will be raised next week unless oil prices in the international market decline dramatically on Monday, according to PTT Plc president Prasert Bunsumpun.
Mr Prasert said the price of diesel in the Singapore market rose sharply by US$3.12 per barrel to $63.60 yesterday, raising the local diesel price to 21.27 baht a litre, outpacing the ceiling of the government's subsidised price of 21.05 baht.
On Tuesday, the government announced a restructuring of the 16-month-old diesel subsidy, acknowledging that it could no longer sustain the high cost of keeping pump prices artificially low.
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Source: HighBeam Research, PTT: Diesel, petrol prices have to rise.