Energy Ministry to announce new diesel price structure today as Bt30 price cap ends
The Energy Ministry will announce on Thursday the new price structure for diesel oil that will be come into effect after the ministry ends the THB30 price cap.
The ministry will also announce details of price structure of other petrol varieties on Thursday.
The Energy Ministry decided to end the diesel price cap at THB30 per litre on April 30 as the Fuel Fund Executive Committee is running out of cash reserves.
The Cabinet had resolved to use the Oil Fund to subsidise half of the price above THB30. Currently, the real market price of diesel oil is about THB40 per litre, a source from the Energy Ministry said.
The source said the Oil Fund board has resolved to use a ladder price structure to minimise impact on the people once the THB30 cap is no longer used from May 1.
The source said the price is expected to be THB32 per litre when the global diesel price is about US$145 per barrel. The source added that the new price structure would cap diesel price at THB35 per litre.
The source said new diesel prices will be announced every week until it reaches the cap of THB35 per litre.
