Cabinet approves diesel tax cut

[snoop1130]

 

BANGKOK (NNT) - The Cabinet has approved a proposed excise tax reduction for diesel for three months, effectively halving the rate from 5.99 baht to 3 baht per liter to help alleviate the fuel price crisis.

 

This lowered excise tax rate will help bring down the retail price of diesel at petrol stations. The government hopes this measure will bring down the pricing of other commodities and consumer products, and alleviate the financial constraints caused by the fuel price crisis.

 

At the previous rate, the Excise Department generated around 12 billion baht monthly from diesel excise tax, or around 144 billion baht each year. The rate is calculated based on the average diesel consumption at some 2 billion liters each month.

 

The Ministry of Finance now expects this temporary tax reduction to cut its revenue down by 5.7 billion baht a month for the next three months. However, the decision is expected to benefit the manufacturing industry, the tourism industry, and the agricultural sector, particularly the farmers.

 

-- © Copyright NNT 2022-02-15

 

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[ikke1959]

February to April?? Now we all have to go back to the petrol stations to get  our too much paid petrol for the diesel back?? February is almost over so this month doesn't count anymore...So 3 months should be March April and May...

[Golden Triangle]

Goody goody, my Fortuner needs topping up soon ????

[hotchilli]

13 hours ago, snoop1130 said:

The government hopes this measure will bring down the pricing of other commodities and consumer products, and alleviate the financial constraints caused by the fuel price crisis.

I doubt very much if this saving will cascade down to the consumer at the supermarkets etc.

[bigupandchill]

[jacko45k]

16 minutes ago, hotchilli said:

I doubt very much if this saving will cascade down to the consumer at the supermarkets etc.

I think it might... although I was disappointed not to see a 'price' for diesel in the above article. as likely to be down from the current 30 baht, to say 27/liter. (I think it around  £1.50 in the UK, 64 baht.)

Edited February 16, 2022 by jacko45k

[sammieuk1]

Most country's have Greenpeace on their back we have Blackpeace  pumping out more soot cheaper ????

[hotchilli]

52 minutes ago, jacko45k said:

I think it might... although I was disappointed not to see a 'price' for diesel in the above article. as likely to be down from the current 30 baht, to say 27/liter. (I think it around  £1.50 in the UK, 64 baht.)

I think the small transporters will pocket the saving... maybe a few large warehouses etc will drop the delivery charges to retailers, not sure if they will reach the shops?

[KhunBENQ]

39 minutes ago, sammieuk1 said:

Most country's have Greenpeace on their back we have Blackpeace  pumping out more soot cheaper ????

Indeed. Tell this at Greta world and they get a nervous breakdown.

Diesel being the most targeted transport.

[Eric Loh]

Betting on declining oil price as  inventories restored and building up, increase production from US, OPEC and Russia, economic slowdown of major countries, no Ukrainian invasion and Baht appreciation. Probably right. 

[KhunBENQ]

Today you should see it at the pumps.

2 Baht cheaper.

 

Edited February 18, 2022 by KhunBENQ