Workers inspect oil storage tanks of Shell Thailand at Klong Toey on March 9. Oil prices remained volatile during the past week. Pattanapong Hirunard
The Russian invasion of Ukraine is sending economic shockwaves around the globe with crude oil prices at one point reaching US$130 per barrel, hitting businesses already reeling from tepid consumption caused by the Covid-19 pandemic.
Thailand saw its consumer price index, a gauge of headline inflation, surge 5.28% in February from a year earlier, driven by higher energy prices, although the war only started late last month.
Concerns have been raised about the war increasingly drawing in global powers, making it unlikely oil prices could be reined in any time soon.
The Bangkok Post talked with various business leaders about the possible impact of the war on…
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