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Energy minister sees slim chance of Thailand’s oil prices falling


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Oil prices at gas stations in Thailand are unlikely to drop, although global oil prices are declining because the government has to support the Oil Fuel Fund, which will have incurred about 100 billion baht in debt by the end of the year due to the oil price subsidy program, according to Finance Minister Arkhom Termpittayapaisith.

 

He said that the government is, however, ready to roll out measures to help ease the burden of certain groups hardest hit by rising oil prices.

 

According to the Thai Ministry of Energy, the average diesel price in Thailand is 34.94 baht/litre, which is the third lowest among the ten ASEAN member countries. Only in Malaysia and Brunei, both oil exporting countries, are diesel prices are lower than those in Thailand (17.31 baht/litre in Malaysia and 7.91 baht/litre in Brunei). The highest price is in Singapore at 80.1 baht/litre.

 

Full story: https://www.thaipbsworld.com/energy-minister-sees-slim-chance-of-thailands-oil-prices-falling/

 

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-- © Copyright Thai PBS 2022-07-07
 

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How about charging double oil prices to Falangs like you are planning for hotels? 

Since we are at it why shy from creating another racist and discriminatory policy?

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Posted (edited)

Oh, they could be reined in.  If the government wanted to weigh in with regulations.  Obviously they don't.

Check out PTT's year-over-year revenues and profits as we move on to 2023.  Well Ok.  Free market supply and demand? Maybe.
Or maybe not?
If they show up with windfall revenues and profits?
Then the government needs to regulate in then name of national security.  Well, unless the plan is massive austerity for the commoners as well as taking driving out of their financial reach as major oil suppliers leverage geopolitical tension and claim, "It's not us!  What can we do!"

Me personally.  I can stomach 100 THB / liter with no problems.  But by that time there would be such civil chaos in Thailand as well as the world that the commoners would be sharpening their swords and guillotines again.  Look at Sri Lanka. 😉

We keeping hearing about all of these "Public-Private Partnerships" that supposedly makes the world a better place to live.  I don't believe it personally.  When I hear "Public-Private Partnerships" the first thing that comes to my mind is Classic Fascism.  That's never good for the common-folk.

Just saying...

Edited by connda
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2 hours ago, RandiRona said:

How about charging double oil prices to Falangs like you are planning for hotels? 

Since we are at it why shy from creating another racist and discriminatory policy?

Shhhhh.   Don't give them ideas!  :wink:

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2 hours ago, webfact said:

Oil prices at gas stations in Thailand are unlikely to drop, although global oil prices are declining because the government has to support the Oil Fuel Fund, which will have incurred about 100 billion baht in debt by the end of the year due to the oil price subsidy program, according to Finance Minister Arkhom Termpittayapaisith.

So you mean, we subsidize oil for companies and corporations and screw the commoners. 

Well - Ok.

Sorry little people.  We're going to impose massive austerity on you so that businesses can pad their bottom line. 
Anyway, they get you one way or the other.  With no subsidies the price of good rise. 

The government is trying to dodge the bullet.  Give corporations a break on diesel, then the can keep their profits - maybe even raise prices and pad their profits, and the public won't blame them!   :thumbsup:

Eventually the common-folk will wise up to the game being played. 

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13 minutes ago, connda said:

Shhhhh.   Don't give them ideas!  :wink:

I am sure it’s coming after hotels and other places where they see possibility of fleecing Falangs. After court approved 4 times charges for Falangs in hospitals, they know that sky is the limit now.

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Chuck in a number say 100 billion then take off syphoning theft and disbursements and you probably get a figure close to 500bt 🤔   

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7 hours ago, webfact said:

According to the Thai Ministry of Energy, the average diesel price in Thailand is 34.94 baht/litre, which is the third lowest among the ten ASEAN member countries. Only in Malaysia and Brunei, both oil exporting countries, are diesel prices are lower than those in Thailand (17.31 baht/litre in Malaysia and 7.91 baht/litre in Brunei). The highest price is in Singapore at 80.1 baht/litre.

If Malaysia and Brunei can keep the price down at the pump So can Thailand .

They wont because they are too greedy and don't care about the public. 

They make billions THB a day but they don't care.

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