Retail petrol prices to come down by Bt1/litre

[webfact]

Retail petrol prices to come down by Bt1/litre

By THE NATION

 

Energy Minister Sontirat Sontijirawong

 

Retail prices of all petrol types will be cut by Bt1 per litre from December 26 to January 10 next year, following a resolution of the Oil Fund's administration committee on Wednesday (December 25) to lower contributions to the fund.

 

Energy Minister Sontirat Sontijirawong said the move will ease the cost of living. The Oil Fund had Bt38.409 billion as of December 24.

 

Sontirat also outlined the ministry's missions next year under the Energy For All policy.

 

He said he would push hard for the negotiations between Thailand and Cambodia early next year on the overlapping sea area. There has been much progress in the country's framework for negotiations , he added.

 

The ministry also aims to finish early next year the revision of five long-term comprehensive energy plans.

 

The ministry is promoting the use of B10 diesel and all petrol stations nationwide have been instructed to make B10 diesel available from March 2020.

 

The sale volume of B10 is expected to reach 57 million litres per day by the middle of next year.

 

Source: https://www.nationthailand.com/business/30379839

 

-- © Copyright The Nation Thailand 2019-12-26

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[bkk6060]

So, that is about 12 cents per gallon.

On a 12 gallon fill up about $1.50.

That will help the cost of living?

Sadly, seems like crumbs...

[Jip99]

23 minutes ago, bkk6060 said:

So, that is about 12 cents per gallon.

On a 12 gallon fill up about $1.50.

That will help the cost of living?

Sadly, seems like crumbs...

 

Better than nothing, and much better than going the other way.

 

Just paid £1.30 in the U.K. for a litre of diesel........ you certainly won’t see me whingeing about fuel prices in Thailand.

[Ireland32]

It was 26,60 in Korat a few days ago and now it’s raised to 27.60 for holiday travel, Ridiculous announcement 

[Scott Tracy]

For how long? Is the price state controlled?

[ParkerN]

Thailand must officially be in trouble... The signs are adding up to not look good.

 

 

[Cake Monster]

The rising cost of Gasoline and Diesel, is used by the Market Retailers and Street Food Vendors as an excuse to increase their prices to the Consumers.

However, they will not reduce their prices upon this reduction of 1 Baht /Litre, so therefore the reduction will not help anybody with the cost of living.

 

[KhunBENQ]

2 hours ago, Scott Tracy said:

For how long? Is the price state controlled?

Interesting questions.

I thought it is time limited.

 

State controlled via the fuel tax.

And the amount of tax varies much between different fuel types.

Can even be subsidized at times.

And this "fund"/government agency decided on a regular basis on the taxes.

There was an excellent diagram in the other newspaper about it.

But neither it's allowed to link here nor do I find it right now.

[KhunBENQ]

Below is a screenshot from the Excel sheet that is published by the EPPO agency.

As you can see the varying taxes and the contribution to that oil fund.

Among others it says that the B20 Diesel is subsidized by 4.84 Baht, E85 even 8.31 Baht.

So of course "state controlled".

http://www.eppo.go.th/index.php/th/petroleum/price/structure-oil-price

 

Click to see full size:

[Srikcir]

16 hours ago, KhunBENQ said:

So of course "state controlled".

Development, distribution, marketing and revenue collection of Thailand's oil & gas resources is handled through state-owned PTT Public Co. Ltd (PTT), formerly known as Petroleum Authority of Thailand.

In a fashion Thailand has a socialist energy market that does not allow for free-market pricing. The result can be a distortion of the CPI as a true measure of inflation.