No diesel price hike for this week, says energy minister

BANGKOK: -- Energy Minister Prommin Lertsuridej yesterday disclosed the ministry would not yet raise a local diesel price within this week because it had to assess the extent of impacts from the price hike with caution.

“Although the diesel price in the world market will increase, we won’t definitely edge up the local price this week because we need to consider the further price rise carefully to ensure it has minimal impacts on people and the business sector,” he said.

Currently, the State Oil Fund has to subsidize the diesel price by 4.05 baht per liter or around 202 million baht per day.

So far, the fund has spent 69.39 billion baht on fuel subsidies. Of this, 62.42 billion baht has been used for the diesel subsidy, 2.67 billion for premium gasoline and 4.3 billion for regular gasoline.

--TNa 2005-02-27

More price rises in the wind and the PM says that there will be no domestic price increases. Come back the Tooth Fairy, all is forgiven. The PM's grasp of economics seems suspect, hoe did he make his vast fortune!!

69.39 billion baht....

Who's gonna pick up the tab in the end?

Toxin out of his own pocket?

Mr Thaksin said yesterday that he would maintain a three baht discount to the true price of diesel,hardly an incentive to save fuel.

On the one hand the govt's saying "Save Fuel" while on the other they're pushing car sales.......Last year 600,000 plus cars sold and more than a million motorbikes.

Buying cars and putting them together form the mainstay of the Thai economy. The amount of fuel being guzzled last year will be a lot less than this year. More and more petrol stations are being built. I see today that oil is around $52 and heading up.