Thais urged to consume energy wisely

BANGKOK, December 23 (TNA) - Bangchak Petroleum Public Company Limited (Bangchak), one of Thailand's top petroleum firms, warns the general public to consume energy wisely, as world oil prices are likely to rise next year. Bangchak President Chaiwat Kovavisarach told journalists on Wednesday that domestic demand for oil has increased by around 8 per cent this year, or about 1.8 million barrels per day, which is higher than Thailand's gross domestic product (GDP) growth of only about 2 per cent. Chaiwat, thus, urged the public to carefully use energy, projecting that world oil prices should remain at the present level of 30 US dollars a barrel only for the next few months after that, the global oil prices should rise to 40 US dollars a barrel and Bangkok's Phra Khanong oil efinery would also be closed for maintenance for about 40 days. Besides, Chaiwat suggested that the public use more gasohol E20 and E85 to help reduce Thailand's imports of gasoline. According to the Bangchak president, the Thai petroleum sector is expected to grow by 10 per cent this year, thanks to the expanding domestic economy in the second half of 2015, prompting the private sector to ask the government to continually implement economic stimulus measures to further boost confidence among consumers at all levels. (TNA)