Oil Fuel Fund keeps diesel price at 35 baht per liter

[webfact]

 

by Tanakorn Sangiam
    
BANGKOK (NNT) - Thailand’s Oil Fuel Fund has decided to maintain the current retail price of diesel at 35 baht per liter, in an attempt to help mitigate the high living cost amidst global oil price fluctuations.

 

According to Oil Fuel Fund Office (OFFO) director Wisak Watanasap, the global diesel price on 22 August was 137.52 U.S. dollars per barrel, which was 6.56 dollars higher than that of the previous week at 130.96 dollars.

 

This price increase is driven by the increasing petroleum demand in the United States, as its economy shows recovery; coupled with the European Union’s ban on Russian oil.

 

The Thai government is now providing a partial subsidy for diesel prices exceeding the 35 baht per liter ceiling, to which the government covers 50% of the excessive amount. This measure has been in effect since July, and will continue through September this year.

 

OFFO’s financial balance as of 21 August was at negative 118.01 billion baht - 76.74 billion baht in red for the oil fund and 41.27 billion baht in red for the LPG fund.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG220825080631850

 

-- © Copyright NNT 2022-08-25

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[ThailandRyan]

Eventually the bill will come due and the public/citizens will have to shoulder the debt this creates.  One wonders where the free money is coming from to build the fund...yes I know from the refineries and oil companies, but then it is tax money being levied which could be spent paying down the debt incurred by this Government......nothing is free in this world.

[IAMHERE]

Somewhere along the line Thai Taxpayers are the ones really doing the Diesel subsidy for those who thought that was the engine to buy. Guess they were right. My new Honda BRV wants 45 baht or more for 95 gas.

Edited August 25, 2022 by IAMHERE
spelling

[alien365]

23 minutes ago, IAMHERE said:

Somewhere along the line Thai Taxpayers are the ones really doing the Diesel subsidy for those who thought that was the engine to buy. Guess they were right. My new Honda BRV wants 45 baht or more for 95 gas.

45 baht for 95? Is that Shells V-power containing the additives? If you service your car regularly you shouldn't need that for a BRV. 

[transam]

4 minutes ago, alien365 said:

45 baht for 95? Is that Shells V-power containing the additives? If you service your car regularly you shouldn't need that for a BRV. 

What do they do at a service to keep the fuel system clean and injectors free from crud build up...?

[Cake Monster]

6 hours ago, ThailandRyan said:

Eventually the bill will come due and the public/citizens will have to shoulder the debt this creates.  One wonders where the free money is coming from to build the fund...yes I know from the refineries and oil companies, but then it is tax money being levied which could be spent paying down the debt incurred by this Government......nothing is free in this world.

When that Bill becomes due for payment there will be a huge Bang

And not just on the Fuel Fund Debt.

[kickstart]

11 hours ago, ThailandRyan said:

Eventually the bill will come due and the public/citizens will have to shoulder the debt this creates.  One wonders where the free money is coming from to build the fund...yes I know from the refineries and oil companies, but then it is tax money being levied which could be spent paying down the debt incurred by this Government......nothing is free in this world.

In some ways you can see where they are going,nearly all of Thai good are hauled by road ,the last time fuel pries were high,diesel was 40baht plus litre  10-12 years ago prices,of every thing went up .

Now with the high inflation, the government are thinking subsidizing   diesel will be cheaper in the long run than an even higher rate of inflation.

[ThailandRyan]

56 minutes ago, kickstart said:

In some ways you can see where they are going,nearly all of Thai good are hauled by road ,the last time fuel pries were high,diesel was 40baht plus litre  10-12 years ago prices,of every thing went up .

Now with the high inflation, the government are thinking subsidizing   diesel will be cheaper in the long run than an even higher rate of inflation.

Hoping g and trying to keep prices down are a time bomb waiting to explode and when it does we all need to be prepared. Glad I bought gold, and loose diamonds.....

[alien365]

18 hours ago, transam said:

What do they do at a service to keep the fuel system clean and injectors free from crud build up...?

I started a thread a few years back asking about V-power and was told by members it was a waste of money to use it all the time in most cars, but adding it occasionally helps. 

 

Do you think a BRV requires V-power for every fill? 

[ozz1]

They still get their vat on diesel probably lowered the excise a bit but gasoline users will have to pay for the privilege

[Chongalulu]

22 hours ago, transam said:

What do they do at a service to keep the fuel system clean and injectors free from crud build up...?

There are cleaning additives in normal fuel. The occasional use of a premium grade fuel may additionally help

[Chongalulu]

23 hours ago, IAMHERE said:

Somewhere along the line Thai Taxpayers are the ones really doing the Diesel subsidy for those who thought that was the engine to buy. Guess they were right. My new Honda BRV wants 45 baht or more for 95 gas.

Not only 30% more expensive,but add in that diesel is more efficient/economical and the difference probably 50%?

Take the Honda CRV SUV. Ancient 2.4 litre petrol engine or the newer 1.6 diesel twin turbo ? All those varieties however long since extinct in western markets . Thailand- Honda's dumping ground for old engines.

[Photoguy21]

It should be cheaper. Diesel is the lowest grade produced

[transam]

6 hours ago, alien365 said:

I started a thread a few years back asking about V-power and was told by members it was a waste of money to use it all the time in most cars, but adding it occasionally helps. 

 

Do you think a BRV requires V-power for every fill? 

Not by me, Shell advertises their super-dupper additives to stave off varnish build up, I used to put it in my diesel if I was near a Shell station.

I was questioning how/why a dealer service covers not using quality additives, because they do nothing at a service to clean away varnish etc, they only change the crud filter if needed...

[zzaa09]

Because they can and they do. 

Fabricating the usual line, which is accepted.

 

Same as it ever was. 

[digger70]

Government can do better than that, Scrap the fuel tax , and make all people pay their taxes ,that should cover that fuel tax.

Malaysia can supply cheaper Fuel  to their people.

Thailand can do same , But No, they are too greedy .

[metisdead]

Off topic posts and replies bickering about the correct spelling of liter/litre have been removed.