Retail prices of benzene and all types of gasohol have increased eight times during May, by a combined total of 4 baht per litre, with the only price drop being on May 12th.

The latest price increase came into effect this morning (Saturday), as prices of benzene and gasohol increased by 40 satang/litre to 51.26 baht/litre for benzene, 43.85 baht/litre for gasohol 95, 43.58 baht/litre for gasohol 91 and 42.74 baht/litre for gasohol E20. The diesel price remains unchanged at 31.94 baht/litre until Sunday.

According to the Ministry of Energy, it is likely that the price of diesel will increase next week, as the current price is still below the 35-baht/litre ceiling.

Meanwhile, the Oil Fuel Fund Office said that the diesel price may be increased next week by one baht/litre, depending on global oil price fluctuations, especially in the US and Chinese markets, noting that a slight increase in crude oil prices in the two countries will impact on domestic prices in Thailand.

Talks about securing about 20 billion baht in loans from two commercial banks, to subsidise diesel prices, are still under way and, even though the loans cannot be secured before the end of this month, the Oil Fuel Fund, currently running about 70 billion baht in the red, still has one-month of reserves.