Oil prices expected to edge up soon

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Retail oil prices are expected to edge up soon following the fluctuation in global crude prices as well as low

marketing fees at home, according to Shell Companies of Thailand.

Shell's Retail Sales and Operations General Manager Suphan Suthisan said in a statement today that oil retailers have

suffered from a sharp rise in operating costs while crude oil prices may not ease soon due to the nuclear conflicts

in Iran.

Finished diesel has edged up US$1.15 per barrel to $81.19, while finished gasoline up $1.67 to $83.40 a barrel.

In Singapore, oil prices were steady above $63 a barrel in Asian trading on news that US refineries were resuming

gasoline production after being taken down for routine spring maintenance, alleviating some supply worries.

Source: The Nation

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