Petrol prices down as excise taxes are cut
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Petrol prices are expected to go down from Bt1-Bt3.89 per litre at midnight, as the National Energy Policy Committee approved a cut in excise taxes.
The committee considered that the taxes can be cut now that global petrol prices ease.
As of today, the Excise Department collects Bt7 per litre on 95-octane petrol, Bt6.30 on gasohol 95 and gasohol 91, and Bt5.60 on gasohol E20.
Following the cut, 95-octane petrol price will be slashed by Bt3.89 per litre. Gasohol 95 prices will be down by Bt2.12, gasohol 91 by Bt1.86, and E20 by Bt1. The excise tax of Bt5 per litre on diesel has been waived since 2011, which costs over Bt7 billion in subsidies per month.
ACM Prajin Juntong, a deputy chief of the National Council for Peace and Order (NCPO), is chairman of the committee.
Global petrol prices ease today as the US reported an increase in stockpiles. The release was ahead of the Labour Day holiday that marks the end of the country's peak-demand driving season.
At 8pm, a caravan will depart Energy Complex to check the existing stocks at oil depots and fuel stations, before the tax cut will take effect. The caravan will be led by Energy Permanent Secretary Areepong Bhoo-chaoom.
