Domestic oil retailer and refinery Bangchak Petroleum Plc has suggested the government implement three measures in order to oversee diesel prices after the global oil price has been hiking continuously.
Bangchak Petroleum President Dr Anusorn Sangnimnuan admitted that the global economic growth and interest rate would be affected if the global crude oil price touches 149 US dollars per barrel. He said the global oil demand would then shrink accordingly.
The president suggested that the government must draft plans to shoulder the volatile oil price, especially for diesel products whose prices have been pinned at no more than 30 baht per liter.
Dr Anusorn elaborated that the government should increase the diesel price ceiling by two baht per liter, reduce oil excise tax by one to two baht temporarily until the unrest in the Middle East and North Africa eases off and adjust downward the compensation rate of the fuel oil fund.
The president added that people should be at the same time informed of the real oil prices and earnestly help conserve the energy.