Wednesday, April 01, 2020

Change in contribution rates to Diesel Fund in push for B10, B20

Feb 27. 2020
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By THE NATION

The contribution rates for B7, B10 and B20 biodiesels to the Diesel Fund will be raised, said Weeraphol Jirapraditkul, director of Oil Fuel Fund Office (OFFO), after a meeting of the fund's administration committee chaired by Energy Minister Sonthirat Sonthijirawong on Thursday (February 27).

“Contributions to the fund for B7 biodiesel will go up from Bt0.25 to Bt1 per litre, Bt2 to Bt2.5/litre for B10, and from Bt3.91 to Bt4.41/litre for B20," he said.

It means B10 and B20 will have to contribute an additional 50 satang for each litre sold to the fund, and 75 satang more for B7.

This change will make B10's retail price Bt3 lower than its B7 counterpart, while B20 will be Bt3.5 cheaper than B7.

“The change, which will take effect tomorrow (February 28), follows the policy of Energy Policy Administration Committee to encourage motorists to switch to B10 and B20 from B7. Starting March 1, B10 which was announced as the standard biodiesel, will be available at all service stations in Thailand, ” Weeraphol said.

The new contribution rates will also increase the monthly cash outflow rate of the Diesel Fund from Bt413 million to Bt819 million per month. When combined with LPG Fund which has a cash inflow rate of Bt32 million per month, the total cash outflow of Oil Fuel Fund will be Bt787 million per month.

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