Diesel price subsidy extended by 3 months
Money will be drawn from the Oil Fund to continue the 30 baht per litre retail price of diesel fuel for another three months through March 31, 2024, the fuel fund’s office director, Wisak Watanasap, said on Thursday.
The move aligns with a December 19 Cabinet resolution to ensure sustainable livelihoods for the public after the reduced excise tax on diesel fuel will expire this December 31, 2023.
This also action complies with section 5 of the Fuel Fund Act of 2019, which aims to maintain stability in domestic fuel prices at an appropriate level. A volatile energy price situation would result in difficulty for many citizens trying to in cope with living expenses.
The estimated financial status of the Oil Fund as of December 24 of this year stood at a deficit of 78.59 billion baht, comprising a deficit in the oil account of 32.48 billion baht and a deficit in LPG (liquefied petroleum gas) of 46.12 billion baht.
