Oil Fund ‘strong enough’ to stabilise local oil price

[rooster59]

Oil Fund ‘strong enough’ to stabilise local oil price

By THE NATION

 

 

Thailand’s Oil Fund is ready to work on stabilising the price of oil, Viraphol Jirapraditkul, director of the Oil Fuel Fund Office, said on Friday (April 17).

 

 

He added that as of April 12, the fund’s coffers had Bt36.149 billion, which should last until mid this year and there should be no need to increase the contribution of retail oil operators.

 

While the fund has been subsidising B10 diesel, to make it cheaper than B7 diesel, this does not affect the fund financially, he said, adding that he is confident the fund can stabilise the local oil price in the long run.

 

Source: https://www.nationthailand.com/business/30386269

 

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[spidermike007]

One positive thing to come out of all of this is the drop in oil prices, for the average consumer. With (95) gas at 16 baht a liter, we are at least getting a minor amount of relief. Hopefully, within a couple of weeks, we can start hitting the road again, to take advantage of this.