The Petroleum Refining Industry Club, a unit of the Federation of Thai Industries, has insisted the current gross refinery margin (GRM) is reasonable, rebutting an accusation that oil companies are overcharging customers for refined oil.
GRM, the difference between prices of crude oil and refined oil, refers to costs added to the crude oil price during the refining process. It eventually becomes part of the retail oil price that drivers pay at petrol stations.
