As global tensions ease, Oil Fund ups diesel levy by 60 satang
The State Oil Fund will be more positive after tensions in Syria and Iran ease over the next two months, according to the Energy Policy and Planning Office.
Suthtep Liamsiricharoen, director-general of EPPO, said the office agreed at a meeting yesterday to increase the contribution of diesel sales to the fund by Bt0.60 per litre, bringing the total fee to Bt1.4 per litre. However, the diesel price at the pump will remain capped at Bt30 per litre.
The prices of other types of fuel were left unchanged.
The rise in contributions should increase the Oil Fund’s income to about Bt12 million per day. Previously, it was running Bt19 million in expenditures per day. However, the fund has continued to be positive. As of Sunday, it had Bt5.47 billion.
The marketing margins are Bt1.59 per litre for diesel, Bt1.74 per litre for gasohol 95 and Bt1.76 per litre for gasohol 91.
The strategy department had reported that the global crude-oil price would decline in October and November. At the Dubai market, crude is estimated at US$103-$104 per barrel because the situation in Syria has improved.
Iran has also started easing its policy towards the United States and Germany, resulting in cooperation in nuclear development. Iraq can return to normal oil production of 1.4 million barrels per day to serve the world market.
Last Monday, Dubai crude closed at $106.94 per barrel, up $0.24 from the time of EPPO’s previous meeting with reference to the closing price on September 19. Petrol was at $115.89 barrel, up $3.32. Diesel rose $0.21 per barrel to $121.66.
