The Energy Policy Administrative Committee today embarked on a move to keep petrol and diesel retail prices at the current levels.
While the Oil Fund levy for petrol and gasohol products will be raised by 50 satang per litre, the subsidy for diesel would be increased by 20 satang. In effect, should global petrol prices drop, it would take some time for retailers to lower domestic prices.
As the policy takes effect on Sept 6, the Oil Fund's net negative inflow would remain at Bt120 million per day, said Energy Minister Arak Chonlatanon, who chairs the committee.
At present, the Oil Fund is sitting on net losses of Bt16.16 billion.
Arak said that the Oil Fund's levy on petrol and gasohol products is increased to control marketing margin. After the increase, the marketing margin on 95-octane petrol would be Bt4.50 per litre, 91-octane petrol and gasohol 95 at Bt1.70, gasohol 91 at Bt1.90, E20 at Bt2.20, and E85 at Bt9.89.
From tommorrow, the Oil Fund's levy on fuel products will be:
95-octane petrol/Bt7 per litre
Gasohol 91 subsidy/from Bt1.50 to Bt1
E20 subsidy/from Bt1.80 to Bt1.30
E85 subsidy/from Bt12.70 to Bt12.20
Diesel subsidy/from Bt0.60 to Bt0.80