Retail oil prices to up due US-Syria conflict

BANGKOK, April 14 (TNA) -- Retail oil prices by PTT and Bang Chak are expected to increase after Songkran festival following oil price increases in the global market due to the current conflict between the United States and Syria, said Twarath Sutabutr, director-general of Energy Ministry’s Energy Policy and Planning Office. Shell has earlier increased its retail oil prices in Thailand. As the world is closely monitoring the worrisome situation in Syria, Mr Twarath said the world crude prices have increased between 4-5 US dollars per barrel in the past few days. He said Texas Crude Price has risen to 67 US dollars per barrel while Crude Oil Brent price stands at 72 dollars per barrel and their prices “could fall” if the situation in Syria does not escalate. This is because Syria is not located near oil transportation sites. However, the latest reports said the US, UK and France have bombed multiple government targets in Syria early Saturday in an operation targeting alleged chemical weapons sites. The strikes are in response to a suspected chemical attack on the Syrian town of Douma last week. (TNA)