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inflation and gas prices in Thailand

konaboy

By konaboy
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nigelforbes Platinum Member

nigelforbes

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Thailand operates an oil subsidy scheme which helps smooth out the peaks and troughs of consumer petrol prices. At one point during the pandemic the price of petrol/diesel was heavily subsidized by the scheme and this cause the scheme to go into deficit and require loans from government. By keeping the price of petrol/diesel artificially low during the pandemic, the government managed to prevent inflation being passed onto consumers. Now that the oil price is starting to become more normal it's time for the scheme to replenish the fund and pay back the borrowings. I suspect that what you may be seeing in current petrol prices is related to the subsidy scheme.

 

Inflation in September was 6.41%

 

https://tradingeconomics.com/thailand/inflation-cpi#:~:text=Thailand Inflation Rate Eases to 5-Month Low&text=and vegetables %26 fruits.-,Thailand's 2022 headline CPI is projected to rise between 4,compared with consensus of 3.2%.

 

 

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nigelforbes Platinum Member

nigelforbes

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1 hour ago, Aussieroaming said:

We just got our electricity bill. We used exactly the same amount of electricity as the last period (slightly less actually) but the bill was 20% higher this month. We own our condo so it wasn't a landlord price gouge.

The FT tariffs were increased during the year because the price of oil went sky high.

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KhunBENQ Star Member

KhunBENQ

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23 hours ago, konaboy said:

2) Why have gas prices recently gone up? (Diesel?) when they seem to be going down globally

One simple fact is the "38" that you have cited. Baht weakened against the Dollar which still is the reference for energy prices.

 

Globally: have you noticed the terrible energy crisis in Germany which buys LNG for about any price?

LNG is an important factor for Thai energy prices.

 

And as mentioned above: energy prices in Thailand are not a free unregulated market. Subsidies on one side, extra tax on the other.

Gasoline consumers paying for the diesel subsidies (part of).

Edited by KhunBENQ
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KhunBENQ Star Member

KhunBENQ

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26 minutes ago, nigelforbes said:

The FT tariffs were increased during the year because the price of oil went sky high.

Could come close to the mentioned 20%.

Don't want to get bashed for comparing with other countries (price in Thailand equals about 13 Euro Cent per unit).

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topt Ruby Member

topt

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26 minutes ago, KannikaP said:

diesel has been 35.37 for months. 35.87 today.

I paid 34.96 per litre this morning which is what it has been in Pattaya for months at the garage I use - and which I thought was also the govt. frozen rate?

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nigelforbes Platinum Member

nigelforbes

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2 minutes ago, topt said:

I paid 34.96 per litre this morning which is what it has been in Pattaya for months at the garage I use - and which I thought was also the govt. frozen rate?

Yes, except it gets marginally more expensive, the further away you are from Bangkok, Chiang Mai is usually 2 baht higher. 

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Adumbration Platinum Member

Adumbration

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20 hours ago, Kwasaki said:

medium gas bottle 400 baht last us over 2 months,  where's the inflation rate. !!

Time before last I filled our 15kg bottle in town 340 baht.  Just filled it again last week... 450 baht.

 

Very significant jump in prices here.  And I should add I take the bottle to the gas depo myself.  The cost is just for the refill.

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Kwasaki Star Member

Kwasaki

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19 minutes ago, Adumbration said:

Time before last I filled our 15kg bottle in town 340 baht.  Just filled it again last week... 450 baht.

 

Very significant jump in prices here.  And I should add I take the bottle to the gas depo myself.  The cost is just for the refill.

Fair call,  the same gas bottle for us is still 400 and don't remember when it went up but what I'm kinda saying from my point view is over the 2 months usage any increases are negligible.

I appreciate for business it can be difficult.

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farmerjo Platinum Member

farmerjo

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We recharge our 15 kg cooking gas bottle at a local service station.

They will only put 500 baht worth into the bottle.(not full)

Not sure whether that is because they should not be filling it(different price for cooking gas v car gas)or it is more convenient for the attendant in busy times.

Up country.

    

 

Edited by farmerjo
typo with bottle size
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Fairynuff Gold Member

Fairynuff

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8 hours ago, Ste78 said:

where did you see "gas prices recently gone up? (Diesel?) "?

 

price is fixed at 35thb already for months everywhere..

Not sure where you buy your petrol, but every station I see changes the price a couple of times a week. A few days ago I filled up at 34.29, today it’s 35.04

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ripstanley Platinum Member

ripstanley

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4 hours ago, Aussieroaming said:

We just got our electricity bill. We used exactly the same amount of electricity as the last period (slightly less actually) but the bill was 20% higher this month. We own our condo so it wasn't a landlord price gouge.

I live up north. I get a discount of  about 200 baht. This will be for 3 months. I thought this was for all of Thailand. 

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Tropposurfer Platinum Member

Tropposurfer

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2. Haven't gone down in Australia ... I called my cousin on Sunday and he paid $2.37 AUD a litre for unleaded 98 (best quality/mix super) on the lowest cycle day price last week. Diesel is around $2.37 AUD.

There was a temporary freeze on the Federal petrol tax in for a while back at home in OZ but it was reinstated a month or so ago which put the prices back up about 30c AUD a litre.

 

I paid 34.7 bht a litre which is a touch over 1 AUD in Chalong on Saturday morning. To me that is dirt cheap.

 

Edited by Tropposurfer
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KannikaP Star Member

KannikaP

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11 hours ago, VocalNeal said:

I never look at the price . I simply pay what it says on the pump.

True, there's nowt we can do about it, except maybe block the motorways like they are doing in UK. Still will not do anything.

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LittleBear57 Advanced Member

LittleBear57

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22 hours ago, farmerjo said:

We recharge our 15 kg cooking gas bottle at a local service station.

They will only put 500 baht worth into the bottle.(not full)

Not sure whether that is because they should not be filling it(different price for cooking gas v car gas)or it is more convenient for the attendant in busy times.

Up country.

    

 

You should also be checking the test date of the bottle. They should be pressure tested.

They should not fill anywhere near full in Thailand. The heat causes expansion especially if the sun gets on them and they are designed to allow the pressure out which means you are leaking a dangerous gas out the back of your pickup if full. Hope no one is smoking. Seriously it's very dodgy.

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konaboy Advanced Member

konaboy

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On 11/6/2022 at 7:56 PM, nigelforbes said:

Thailand operates an oil subsidy scheme which helps smooth out the peaks and troughs of consumer petrol prices. At one point during the pandemic the price of petrol/diesel was heavily subsidized by the scheme and this cause the scheme to go into deficit and require loans from government. By keeping the price of petrol/diesel artificially low during the pandemic, the government managed to prevent inflation being passed onto consumers. Now that the oil price is starting to become more normal it's time for the scheme to replenish the fund and pay back the borrowings. I suspect that what you may be seeing in current petrol prices is related to the subsidy scheme.

 

Inflation in September was 6.41%

 

https://tradingeconomics.com/thailand/inflation-cpi#:~:text=Thailand Inflation Rate Eases to 5-Month Low&text=and vegetables %26 fruits.-,Thailand's 2022 headline CPI is projected to rise between 4,compared with consensus of 3.2%.

 

 

thank you- however, I was under the impression that oil and gas was cheaper during the pandemic due to less demand?

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Crossy Star Member

Crossy

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On 11/7/2022 at 8:18 PM, ripstanley said:

I live up north. I get a discount of  about 200 baht. This will be for 3 months. I thought this was for all of Thailand. 

 

it is, but it is also usage linked, over 500kWh = zero discount.

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PJ71 Platinum Member

PJ71

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On 11/7/2022 at 9:10 AM, Aussieroaming said:

We just got our electricity bill. We used exactly the same amount of electricity as the last period (slightly less actually) but the bill was 20% higher this month. We own our condo so it wasn't a landlord price gouge.

Yeah, i just got my lekky bill, a tad over 6K.

 

Normally between 4.5-5K.

 

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