PTT takes lead in reducing premium gasohol price

Thailand’s oil and gas conglomerate PTT Plc has taken a lead in reducing premium gasohols price offered at its petrol stations by 0.30 baht (US$0.009) per liter. The Energy Policy Management Committee approved changes in calculating ethanol prices, which would based on a reference price in the world market (Brazil) in place of a common decision by ethanol traders. Chaiwat Churitthi, Senior Executive Vice President of PTT’s Oil Business Group, said the ethanol prices had dropped to 19.33 baht (US$0.58) per liter from 25.53 baht (US$0.76), following the change in the calculation method. Gasohol is a blend of 90% gasoline and 10% ethanol. It would make the retail gasohol price at 23.79 baht (US$0.71) per liter or 1.80 baht (US$0.054) cheaper than premium gasoline. (February 7, 2007)