PTT promises not to raise fuel prices during Songkran

Instead, he said, if the global oil prices drop before the long holidays, PTT will reduce its retail prices accordingly.

Songkran holidays usually fall on April 13-15, but since April 15 is a Saturday this year, Monday has been named a compensation day off. Hence this year, the Songkran holidays run for five days.

As for PTT’s business outlook this year, Auttapol said it expects to earn slightly less than the 3 trillion baht it earned last year.

Auttapol said the slightly lower revenue will possibly be due to dropping global oil prices, which will bring down retail prices in the country. He said he expects the average global oil price this year to be US$80 per barrel compared to an average of $96 per barrel last year.

The CEO added that PTT is expected to cut five investment deals this year and will invest some 30 billion baht in these deals.