Oil prices in Thailand expected to remain elevated till final quarter
Bangkok, June 17 -- An Energy Ministry official of Thailand has warned that domestic oil prices are expected to remain high until the final quarter of this year, and that Thai motorists will continue to face high costs at the pump despite international developments that could stabilise oil markets. As reported by the Bangkok Post, the energy official explained that several factors are keeping domestic prices high. More critically, recent military attacks in the Middle East have damaged oil production, storage and transportation facilities, particularly refineries and liquefied natural gas plants. With many Asian countries lacking refining capacity, reduced supply has pushed refined oil prices higher, the official said. Forward contracts a...
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