DEMOCRAT deputy leader and party-listed MP Korn Chatikavanij today (March 31) said that as he calculates the refining margin has surged to 17 baht a litre and questioned whether this isn’t already excessive profiteering, TV Channel 7 said.
In a post on his personal Facebook page, the former finance minister said today with diesel price having increased by another 1.80 baht a litre he checked and saw that the average refining margin yesterday (March 30) had jumped to 6.99 baht/litre from 6.46 baht/litre three days earlier (March 27).
His calculation showed that yesterday’s (March 30) refining margin was as high as 17.06 baht/litre, while today (March 31) the average refining margin for the entire month of March soared to 7.23 baht/litre, meaning that the refining margin today, was as high as 12.03 baht per litre.
“The reason the refining margin has increased so much is because, even though crude oil prices have increased, the price of refined oil in Singapore, which we use as a reference, has increased at a much higher rate. The difference is the ‘refining margin’ used to determine the selling price to us.
“Recently, some refineries explained that the refining margin does not include the crude premium, which has been very high lately, sometimes as much as 4-6 baht/litre.
“I understand that. But even after deducting that, the refining margin is still very high. And this is the question I have been asking the government all along because the average refining margin was 2 baht before the crisis,” Korn said.
“Isn’t a refining margin of 17 baht per litre considered ‘excessive profit’?!” he asked.
CAPTION:
Democrat deputy leader Korn Chatikavanij. Above photo – Naewna, Front Page photo – Thai Rath
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