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29 Apr 2011


Surges in Oil Prices: Increasing Demand for LPG/NGV (Business Brief No.3097

Continuously rising global oil prices since early 2011 have been largely due to political unrest in the MENA, the key oil producing and exporting region. Currently, refined oil prices in Thailand surged to THB40/liter for 95 octane leaded gasoline and THB36-39/liter for gasohol fuels, while diesel fuel is pegged at not more than THB30, which are regarded as quite expensive for all drivers, including taxis and Tuk- tuk (auto rickshaw or three-wheeler) operators. Thus, they turn to convert vehicle to natural gas, such as LPG or NGV instead.

In 2010, there were 855,285 units using LPG and NGV in Thailand. It is expected that the number of vehicles using these fuels may reach over one million units by the end of 2011.