BANGKOK, Dec 16 — The lower price of imported oil should cut Thailand’s logistics costs by 3-4 per cent as well as prices of some products and strengthen the public’s purchasing power, according to Isara Vongkusolkit, chairman of the Thai Chamber of Commerce.
Regarding the global oil price that has dropped from US$100 to $60 a barrel, Mr Isara said it would not have a noticeable effect on the Thai economy in the last quarter of this year because people’s incomes had not risen.
Mr Isara said he expects clear impacts in the second quarter of next year when the government’s farm product assistance measures will produce results, the government will spend more and the public’s purchasing power will increase.
If oil prices continue at the present level, Thailand can reduce its expense on energy import by Bt146 billion annually, Mr Isara said.
The lower oil price affected the Stock Exchange of Thailand because energy shares had huge values in the bourse, he said.
In the long term, investors would shift from energy stocks to those in other sectors including the agricultural sector, he predicted.
