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BANGKOK, Sept 23 - Although retail oil prices in Thailand increased by 40 satang per litre yesterday, retail prices may rise again if global oil prices do not fall, according to a senior executive at Bang Chak Petroleum Co. Ltd.
Bang Chak senior director Yodphot Wongrakmit said oil traders are still suffering losses because the slight increase in retail oil prices in Thailand did not correspond to the jump in global oil prices.
There are signs that domestic retail oil prices may have to increase further if world oil prices do not decline, Mr. Yodphot said.
On Friday, West Texas oil price closed down slightly by 16 cents to US$81.62 a barrel after rising to a record high several days while Brent crude was up 21 US cents to US$79.30 a barrel.
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