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Article: Thai govt decides not to cut oil price

Article from:
Xinhua News Agency
Article date:
March 26, 2003
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Thai govt decides not to cut oil price

BANGKOK, March 26 (Xinhua) --The Thai government rejected on Tuesday a plan to cut retail oil price, fearing further change of oil price in the world market.

Any change of retail oil price was premature given the volatility in world oil prices, Thai Prime Minister Thaksin Shinawatra said Tuesday.

Energy Minister Prommin Lertsuridej said on Monday that Thailand would cut down retail oil price by 30 satang (about 0. 007 US dollars) a litre due to declining market prices.

The market oil price on Monday were 60-80 satang (about 0.014-0. 019 dollars ) a litre below the capped prices.

The Thai government capped the prices of local premium petrol at ...

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