Diesel drivers in Thailand have waited the longest for relief at the pump, and on 11 November they finally got the bigger share of it. From 5am, PTT Station and Bangchak cut standard B7 diesel by a full 1 baht a litre in Bangkok, to 40.79 baht. Gasohol and regular petrol fell by a smaller 50 satang. Cheaper B20 diesel stayed put at 33.50 baht.
It is the third round of pump-price cuts in a week. Counting the reductions on 5 and 6 November, standard diesel is now 1.75 baht a litre cheaper than it was before the first of those cuts, while gasohol 95, gasohol 91, E20 and regular petrol are each down 2.20 baht.
The new Bangkok prices
From 11 November, PTT Station lists standard diesel at 40.79 baht, gasohol 95 at 39.34, gasohol 91 at 38.97, E20 at 31.30 and regular petrol at 48.83 baht a litre, according to The Nation. Bangchak's own price board shows the same diesel and gasohol figures, with its E85 unchanged at 30.63 baht. Premium diesel and premium petrol grades did not move. These are Bangkok retail prices before the city's local maintenance tax, so what you pay at a pump in another province can be slightly different.
Why diesel fell further this time
The cut follows Oil Fuel Fund Committee announcement 188/2569, signed on 10 November and in force from 11 November. It sets the subsidy the Fund pays on standard diesel at 2.18 baht a litre, down from 2.52 baht under the previous announcement, and on B20 at 2.93 baht, down from 4.05. At the same time the Fund now collects slightly more on petrol and gasohol: 11.17 baht a litre on regular petrol, 3.22 baht on gasohol 95 and 91, and 2.55 baht on E20.
In other words, world prices fell by more than the Fund trimmed its support, which is why pump prices still came down. The committee said global diesel closed at about US$149 a barrel on 10 November, against about US$162 on 6 November, The Nation reported. It also said the Fund was still spending about 89 million baht a day and carried an estimated deficit of about 100 billion baht, and it urged people to keep using fuel carefully.
What it means for a tank
On MEM's arithmetic, filling a 50-litre tank with standard diesel costs about 50 baht less than it did on 10 November, and about 87.50 baht less than before the first cut on 5 November. The same fill of gasohol or regular petrol is about 25 baht cheaper than yesterday and about 110 baht cheaper than before 5 November. B20 drivers are no better off.
Prices can change again at short notice, so check the board before you fill up. For the background to the earlier cuts, see MEM's report on the 5 and 6 November price changes.