Local fuel prices maintained on intervention
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Fuel prices in Thailand would stay unchanged despite a recent spike in global oil prices, thanks to the government's intervention.
The Energy Policy Administration Committee, chaired by Energy Miinster Narongchai Akrasanee, today resolved to cut the Oil Fund contribution of all types of fuels, except gasohol E85, to maintain the local pump prices.
Narongchai said that this would limit volatility of local oil prices.
Starting on April 18, the contribution from 95-octane petrol will be cut by Bt0.50 to Bt6.65 per litre: gasohol 95 by Bt0.30 to Bt0.95; gasohol 91 by Bt0.30 to Bt0.45; diesel by Bt0.60 to Bt0.45. While the contribution from gasohol E85 is unchanged, the Oil Fund would subsidise gasohol E20 by another Bt0.60 to Bt1.40 a litre.
The decision would cut the monthly inflows to the Oil Fund by Bt1.32 billion. Its gain would be Bt1.23 billion a month. At present, the fund shows net positive flow of Bt40 billion.
