Energy Minister Dr.Wannarat Channukul expressed his concerns over the global oil prices, saying that the unrest in the Middle East will continue to send diesel prices soaring in Thailand.
As violence persists in the Middle East, oil prices have remained above 30 baht per liter. Dr. Wannarat said his Ministry will subsidize the price rise, which is inline with the government’s policy, until April to help ease the pressure off Thai commuters.
The Energy Minister said the figures in the Oil Fund could reach below 10 billion baht by the end of April, sooner than expected. This has prompted the Energy Policy and Planning Office (EEPO) to brainstorm for other alternatives to diesel prices. According to the report, the EPPO could be considering excise tax reduction and a ceiling price increase for diesel.