Local oil traders of Thailand have announced a new price hike by 0.30 Bhat per liter for gasoline and by 0.40 Baht (about 0.01 U.S. dollars) per liter for diesel, which makes the domestic diesel price reach its historic highest level so far.

Given the new move, the retail prices of premium gasoline, regular gasoline and premium gasohol in Bangkok and its surrounding provinces stand at 26.74 Bhat (about 0.67 U.S. dollars) per liter, 25.94 Bhat (about 0.65 U.S. dollars) per liter and 25. 24 Bhat (about 0.63 U.S. dollars) per liter respectively, effective from morning on March 4.

The retail price of diesel reaches 25.09 Bhat (about 0.63 U.S. dollars) per liter, hitting its historic highest record level so far.

Chaivat Churitti, Senior Executive Vice President of PTT Public Company Limited (PTT), said on Friday that continuing global oil price rises over the past days had forced all the local oil traders to, by no means, raise the fuel prices again, as their marketing margin had declined to a lower level.

Unrest concerning hostage taking of oilmen in Nigeria, as well as news reports on planned sabotages in the Middle East and temporary closure of many oil refineries in Asia for maintenance were key factors behind the continuing global oil price hike, he said.

Source: Xinhua