Ruling party promises to cut fuel prices if reelected
The ruling Palang Pracharath Party (PPRP) will cut fuel prices by reducing taxes to help reduce operational costs and consumer prices, the leader of the party's economic team, Mingkwan Saengsuwan, said on Thursday.
"If PPRP is elected, the party will reduce the price of benzene and diesel by about18 baht and six baht per litre, respectively," Mingkwan said.
The current price of benzene – 44.06 baht per litre – includes excise and interior taxes, as well as taxes collected by the Energy Conservation Fund and Oil Fuel Fund, with the amount collected by the latter being 8.58 baht per litre, he said.
"If we cut the Energy Conservation Fund's and Oil Fuel Fund's taxes of 18.07 baht per litre, the benzene price will stand at 25.99 baht," he said, adding that similar cuts would be made to the price of diesel.
The PPRP's "fuel for the people" policy aims to reduce pain for members of the public as well as businesses and boost the economy’s recovery from the pandemic, Mingkwan said.
The policy will be included in the government's short-term plan if PPRP is reelected, he said.
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