FRIDAY, March 29, 2024
nationthailand

Oil Fund ‘strong enough’ to stabilise local oil price

Oil Fund ‘strong enough’ to stabilise local oil price

Thailand’s Oil Fund is ready to work on stabilising the price of oil, Viraphol Jirapraditkul, director of the Oil Fuel Fund Office, said on Friday (April 17).

He added that as of April 12, the fund’s coffers had Bt36.149 billion, which should last until mid this year and there should be no need to increase the contribution of retail oil operators.
While the fund has been subsidising B10 diesel, to make it cheaper than B7 diesel, this does not affect the fund financially, he said, adding that he is confident the fund can stabilise the local oil price in the long run.

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