Article: Thailand to cut oil price

Thailand to cut oil price

BANGKOK, March 25 (Xinhua) -- Thailand will cut down retail oil price due to declining market prices, Thai Energy Minister Prommin Lertsuridej has said.

"Over the next few days we will cut retail prices of gasoline by 30 satang (about 0.007 US dollars)," Prommin was quoted Tuesday as saying by local website Bussiness Day.

Prommin said the expected reduction of local retail oil prices reflected the decline of refined oil prices in the Singaporean market due to a clearer prospect for the outcome of the war in Iraq.

The current market prices of all petrol and diesel ...

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