As of yesterday, only lube oil had been cut in price despite the Commerce Ministry saying on Wednesday that the prices of six consumer products were likely to be cut by 5% on average this week in light of falling oil prices.
Workers fill cooking gas cylinders at a factory in Nonthaburi province yesterday. Of six consumer products whose prices were expected to decline this week, only that of lube oil has been cut. PATTARAPONG CHATPATTARASILL
Boonyarit Kalayanamit, director-general of the Internal Trade Department, said most manufacturers had yet to finalise their studies on the effect of falling oil prices on production costs.
Yesterday he led department officials on an inspection of product prices at Nonthaburi's Tha Nam Non Market.
Mr Boonyarit said authorities had been closely watching domestic product prices and expected the prices of other items such as chemical fertilisers, plastic pellets, steel and construction raw materials to decline gradually this month.
The Internal Trade Department itself is accelerating its studies and analysing the overall price structure of consumer products, particularly those on the ministry’s price control list, as oil prices continue to fall.
Earlier on Wednesday, Commerce Minister Chatchai Sarikulya said it was highly likely that products benefiting the most from lower costs for transport and raw materials that were the byproducts of oil would have their prices cut.
They include lube oil, plastic pellets, cement, roof tiles, steel rods, steel plates, structural steel and chemical fertiliser.
Mr Boonyarit said his ministry would soon declare new recommended prices for pork, chicken, eggs and cooking gas.
Gen Chatchai last week said 43 items could be subject to price cuts.
The price control list covers mainly essential items including food, consumer products and farm-related products such as fertiliser, pesticide, animal feed, tractors and rice harvesters as well as construction materials, paper, petroleum and medicine.
Foods include garlic, rice, corn, eggs, cassava, wheat flour, yoghurt, powdered and fresh milk, sugar, pork and vegetables and animal oils, while consumer products include detergents, sanitary napkins and toilet paper.
The government has threatened to take legal action against producers or traders refusing to cut prices despite the continuing fall in oil prices. Penalties include a maximum seven years' imprisonment and/or a fine of up to 140,000 baht.
Mr Boonyarit said authorities were also closely monitoring complaints about hikes in cooking gas delivery charges and admitted some gas outlets were found to charge higher than the department’s regulation.