News Forum - Thailand’s price cap on diesel will last through May

[Thaiger]

In the midst of skyrocketing fuel prices around the world, Thailand’s diesel price cap at 30 baht per litre will last until the end of May. After that, a loan of 40 billion baht that supports the subsidy allowing the cap is expected to run out. Thailand’s deputy prime minister, who is also the energy minister, said the country must save energy while waiting for additional loans. “We have to rely on ourselves… If everyone helps with energy saving, the cap will last long, and if prices go down, it will last even longer”. On Wednesday, the National Energy Policy […]

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[WilliamG]

What's this 'price cap'? It is over Bht 30 a litre here!

[DiggR]

Someone in the supply/distribution chain seems to be ignoring the government and upping the profit margin. As usual, no enforcement mechanism is in place.

[Marble-eye]

8 minutes ago, WilliamG said:

What's this 'price cap'? It is over Bht 30 a litre here!

It's all a load of nonsense William, I was putting 1000 baht worth in my tank 9 years ago and today I'm still putting 1000 baht in my tank, how has that gone up?

[Convert54]

50 minutes ago, WilliamG said:

What's this 'price cap'? It is over Bht 30 a litre here!

It's a loose description. Cap ? Hat? Same same but  different(price). Transport costs! Fuel has gone up  ya know? Rental properties maybe up 30% too ?

Actually  been paying  31.99 Bht per lt since  January.  Been places were the asking has been 32.99.

But still better than the hike in benzine like products.  Nearly  bought a petrol v6  just before Putin soiled his Press Secretary's pants ! Sort of  binned that plan for the moment.

 

[Cabra]

I'm still perplexed by why Thailand is seeing a spike given most of Thailand's crude oil and condensates are from offshore fields in the Gulf of Thailand. Add to that Thailand's No. 1 refiner and seller of petroleum products, is TOP which operates one of the most efficient refineries in Asia-Pacific. Has something changed I'm not aware of? Probably just classic supply chain price gouging.

[Cabra]

1 hour ago, WilliamG said:

What's this 'price cap'? It is over Bht 30 a litre here!

And going up daily it would seem. My girlfriend's hobby is pointing this out to me on a regular

[alex12345]

3 hours ago, Cabra said:

I'm still perplexed by why Thailand is seeing a spike given most of Thailand's crude oil and condensates are from offshore fields in the Gulf of Thailand. Add to that Thailand's No. 1 refiner and seller of petroleum products, is TOP which operates one of the most efficient refineries in Asia-Pacific. Has something changed I'm not aware of? Probably just classic supply chain price gouging.

the whole of europe is price gouging everyone why not thailand, however thailands low rent, bills and travel economy cannot take any gouging. millions will be messed up if it happens and salaries across the board will need to rise. All salaries, the average government teacher in his or first year is on 15,000 baht you cant absorb higher bills with or travel or rent costs with that kind of salary. debt will rise etc etc. which might be a global aim anyway as the uk and the US have massive student debt anyway before they even enter the job market. pure idiocy but keeps society like financial slaves to be sure.

[Disenfranchised]

12 hours ago, Cabra said:

I'm still perplexed by why Thailand is seeing a spike given most of Thailand's crude oil and condensates are from offshore fields in the Gulf of Thailand. Add to that Thailand's No. 1 refiner and seller of petroleum products, is TOP which operates one of the most efficient refineries in Asia-Pacific. Has something changed I'm not aware of? Probably just classic supply chain price gouging.

Quite simple, the price of crude has gone up. Doesn't matter where it comes from, the price of a barrel of oil is determined by worldwide demand and speculation. And it does benefit those entities who have locked in a contractual price (that doesn't happen to much these days). 

Of course, one does wonder why you have an immediate price rise of end use products when that barrel of oil only increased in price the day before! And conversely, why the prices don't drop until weeks after a decrease in price of that barrel of oil.

[Marc26]

37 minutes ago, Disenfranchised said:

Quite simple, the price of crude has gone up. Doesn't matter where it comes from, the price of a barrel of oil is determined by worldwide demand and speculation. And it does benefit those entities who have locked in a contractual price (that doesn't happen to much these days). 

Of course, one does wonder why you have an immediate price rise of end use products when that barrel of oil only increased in price the day before! And conversely, why the prices don't drop until weeks after a decrease in price of that barrel of oil.

But as you alluded to in the last part

 

It is immediate price gouging 

[JamesR]

On 3/12/2022 at 9:53 AM, Marble-eye said:

It's all a load of nonsense William, I was putting 1000 baht worth in my tank 9 years ago and today I'm still putting 1000 baht in my tank, how has that gone up?

I was only putting 300 baht in my tank 9 years ago and I am still putting 300 baht, but I run out of petrol before I get to Tesco.