End of war is unlikely to bring them down
Monday diesel was sold at 39.80 baht per litre, only slightly lower than a month earlier. Pattarapong Chatpattarasill
Domestic oil prices in Thailand are expected to remain elevated until the final quarter of this year, even though global crude benchmarks have eased and the US is set to sign a peace deal with Iran this Friday to end nearly four months of conflict in the Middle East.An Energy Ministry official, speaking on condition of anonymity, warned that Thai motorists will continue to face high costs at the pump despite international developments that could stabilise oil markets.
Global crude prices have slipped, with Brent crude standing at US$90 on June 12, down from highs of $102–$116 in early March, according to Capital.com, a fintech and trading platform.
Yet Thai retail prices have not followed suit. On June 15, diesel was sold at 39.80 baht per litre and gasohol 95 at 42.30 baht, only slightly lower than a month earlier.
