Retail prices of 244 products slashed to reflect falling fuel prices
Following falling fuel prices, 23 manufacturers have finally agreed to reduce the retail prices of 244 goods, including food and beverages, building materials and petroleum products.
The cuts will range from Bt0.50 to Bt14,000, or 2.08 to 18 per cent, per item, depending on the cost of production and weight of the goods.
Commerce Minister Apiradi Tantraporn said yesterday the government has held close discussions with the manufacturers.
Many have been prompted to adjust their prices to reflect lower costs of production, mainly oil and transport costs.
Most food traders have left their prices unchanged, so consumers should enjoy a lower cost of living and have more spending power. That would stimulate the domestic economy.
For building materials, prices would go down by Bt0.50 for coloured cement, Bt67.40-Bt950 for electric wire rods, Bt1.17-Bt17.95 for PVC pipes, Bt4,500 for a tonne of structural steel and Bt14,000 for a tonne of cold-rolled stainless steel rods.
For petroleum products, mainly lubricants, prices will |dip from Bt3 to Bt1,595, or 3 to 22.5 per cent, depending on the brand.
For food and beverages, prices will be slashed by Bt1-Bt56 per item, or by 3.13-33 per cent.
For instance, rice will drop from Bt242-Bt260 per five-kilogram pack to Bt219-Bt239, cooking oil from Bt48 to Bt39 per litre bottle, canned fish from Bt22 to Bt19 per 155-gram can, and instant noodles from Bt78 to Bt60 per pack with a dozen small packs.
