Pump prices to be cut sharply midnight: Thailand

[wandasloan]

Nothing to do with populism in this case. just telling PTT to charge less because they are already make a lot of profit.

It has nothing to do with PTT. Nothing.

Authorities are cutting taxes and ALL companies will reduce their prices accordingly, including PTT but including everyone else.

All the above is fact.

Some call it populism. You don't. You're entitled to your opinion. Others may agree with it, some definitely will not.

.

[PETERTHEEATER]

I'll believe it when I see Shell drop its prices. Gasohol 95 has been extortionate for the last 2 years, and I don't see the big players abiding by this instruction whatsoever.

They are cutting the excise tax rate not the fuel service company's price. The Government takes the hit but, of course, the loss has to be offset by increases elsewhere.

[Thailand]

Populist policy?? I thought the Junta was cracking down on these.

The hub of populist policies?

[toybits]

Hurry up and purchase your fuel now to avail of old fuel prices!!! Don't waste time!!!

[keestha]

Small businesses depend on Diesel because of the pick-ups, a hefty price increase would cause a lot of discontent, and economic repercussions.

[SWW]

so diesel will now quietly cross the psychological barrier of 30 baht per liter and we can expect further increases

Isn't diesel currently 29.85?

Meaning that it will stay 1 satang shy of the psychological barrier, at 29.99.

This just undoes the 14 satang drop a few weeks (couple of months?) ago.

[kamahele]

And when did I fill my tank? This morning of course.

[ginjag]

Populist policy?? I thought the Junta was cracking down on these.

The hub of populist policies?

Tell you a good idea you 2, as from midnight you 2 pay the old prices ?? seems the army is not helping you ??

[ginjag]

And when did I fill my tank? This morning of course.

go for a spin until midnight

[rreddin]

Populist policy?? I thought the Junta was cracking down on these.

Nothing to do with populism in this case. just telling PTT to charge less because they are already make a lot of profit.

Sorry but you are boring. All over TV.

If you read the OP you would know the price reduction is through a reduction of excise tax, nothing to do with PTP's profit margin.

So true. A lot of forum babble without the slightest background knowledge about the subsidy system that exist(ed) here.

Diesel is still subsidised and I wonder where the money now should come from?

The junta throws around with the billions of Baht as if there is no tommorow.

Hope they have a plan.

The junta announced their budget for the next fiscal year a few weeks ago. I presume their budget took into account the cut in tax announced today as well as all their other grand schemes. If so. all well and good. If not, I predict the next civilian government will be formed shortly before the solids hit the air conditioning.

[brucec64]

Populist policy?? I thought the Junta was cracking down on these.

The hub of populist policies?

Tell you a good idea you 2, as from midnight you 2 pay the old prices ?? seems the army is not helping you ??

I think the issue is that the previous government was vilified for populist policies and that one of the stated goals of the new government was to stop populist policies. Is it possible the farmers as of midnight would like to get the price for rice that they were getting last year?

Are popular policies only wrong when they help other people and ok when one personally benefits?

[SOTIRIOS]

.....any word on LPG or CNG.......???

[Cheops]

Great, but now people will start to drive more because it's a bit cheaper, so more traffic jams!

And the Diesel goes up. Yes, I know it's 14 satang, but they will use this as an excuse to drive the prices further up of your daily needs!

All in all not so good move!

Btw: my car drives on LPG

[chrisinth]

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Wow. Now that brings some happiness

Except for diesel users,but at least its not going up.

regards worgeordie

Did you miss that diesel will go up by 14 satang ?

No Probs, been saving up...........................

[Equalizer]

You may have noticed that on the same day this jubilant news for the uneducated came out so did the news that a Thai court dismisses murder charges against former PM Abhisit. A criminal court in the capital ruled that it did not have jurisdiction to hear the case because Abhisit and his then-deputy Suthep Thaugsuban were holders of public office at the time and acting under an emergency decree. Suthep appeared in court sporting a shaven head and the orange robes of a Buddhist monk after entering the clergy. This man Suthep makes the devil himself Thaksin look like Mary Poppins. Mr 2 billion baht Palm oil scamster

[ginjag]

Populist policy?? I thought the Junta was cracking down on these.

The hub of populist policies?

Tell you a good idea you 2, as from midnight you 2 pay the old prices ?? seems the army is not helping you ??

I think the issue is that the previous government was vilified for populist policies and that one of the stated goals of the new government was to stop populist policies. Is it possible the farmers as of midnight would like to get the price for rice that they were getting last year?

Are popular policies only wrong when they help other people and ok when one personally benefits?

Please note again, global price drop. forget the propaganda-re populist polices.

[Pib]

You can see the fuel prices in Bangkok at this govt Energy Policy & Planning Office. As of this posting the site shows diesel at 31.85 but come tomorrow it will go to 31.99 at PTT and many other fuel stations. With diesel prices going up from 31.85 to 31.99, it basically takes it back to the same price a few weeks ago before they lowered it to the current 31.85 price...up, down, up, down goes the price..

And all the fuel price cuts are really just a reduction or increase in the fuel tax collected by the govt...but when the govt reduces a tax they call it a subsidy fooling many people into thinking the govt is spending money to subsidize the fuel...nope, they are just reducing the tax to a lower level for a certain time period. And a few weeks from now if oil prices stay stable the govt may decide to increase fuel prices again by upping the fuel tax on some or all fuels to rebuild fuel tax revenue. It's all a tax game to balance out/control various fuel prices.

[mesquite]

Dang, I just filled up!

[webfact]

FUEL PRICES
Petrol prices down as excise taxes are cut
The Nation

BANGKOK: -- Petrol prices are expected to go down from Bt1-Bt3.89 per litre at midnight, as the National Energy Policy Committee approved a cut in excise taxes.

The committee considered that the taxes can be cut now that global petrol prices ease.

As of today, the Excise Department collects Bt7 per litre on 95-octane petrol, Bt6.30 on gasohol 95 and gasohol 91, and Bt5.60 on gasohol E20.

Following the cut, 95-octane petrol price will be slashed by Bt3.89 per litre. Gasohol 95 prices will be down by Bt2.12, gasohol 91 by Bt1.86, and E20 by Bt1. The excise tax of Bt5 per litre on diesel has been waived since 2011, which costs over Bt7 billion in subsidies per month.

ACM Prajin Juntong, a deputy chief of the National Council for Peace and Order (NCPO), is chairman of the committee.

Global petrol prices ease today as the US reported an increase in stockpiles. The release was ahead of the Labour Day holiday that marks the end of the country’s peak-demand driving season.

At 8pm, a caravan will depart Energy Complex to check the existing stocks at oil depots and fuel stations, before the tax cut will take effect. The caravan will be led by Energy Permanent Secretary Areepong Bhoo-chaoom.

Source: http://www.nationmultimedia.com/business/Petrol-prices-down-as-excise-taxes-are-cut-30241976.html


-- The Nation 2014-08-28

[Jimi007]

Big deal. I will save about 6 Baht to fill my motorbike and 40 Baht to fill my truck.

[ezzra]

Hurrrrayyy, now I can afford to fill up my motorbike tank, seriously, this IS a big reduction

and about time too...

[shaurene]

Wow. Now that brings some happiness

Except for diesel users,but at least its not going up.

regards worgeordie

Diesel going up.

[wandasloan]

You can see the fuel prices in Bangkok at this govt Energy Policy & Planning Office. As of this posting the site shows diesel at 31.85 but come tomorrow it will go to 31.99 at PTT and many other fuel stations. With diesel prices going up from 31.85 to 31.99, it basically takes it back to the same price a few weeks ago before they lowered it to the current 31.85 price...up, down, up, down goes the price..

No it doesn't. It shows diesel at 29.85. Tomorrow it will be 29.99.

Nothing is listed at 31.85 at the site you gave. Maybe you didn't clear out your internet cache?

[aripengu]

Yippie, I like how the generals are beginning to be more populist than than PTP! That could buy them some votes if they decide to run for office.

[newcomer71]

Populist policy?? I thought the Junta was cracking down on these.

Nothing to do with populism in this case. just telling PTT to charge less because they are already make a lot of profit.

Sorry but you are boring. All over TV.

Wrong answer, retry. This price variation is due to cut on excise taxes...

[ratcatcher]

Dang, I just filled up!

My sincere sympathies to you and yours. Do you think you will ever recover from this over expenditure. Will you need to sell the house, remortgage? Times are hard at times.

[DekDaeng]

I'll believe it when I see Shell drop its prices. Gasohol 95 has been extortionate for the last 2 years, and I don't see the big players abiding by this instruction whatsoever.

Correct me if I am wrong, but I think the 95 and 91 refer to octane ratings of straight gasoline, the 'E' of E85 and E20 refers to percentage of ethanol in the gasohol (gasoline plus alcohol) fuel.

[Pib]

You can see the fuel prices in Bangkok at this govt Energy Policy & Planning Office. As of this posting the site shows diesel at 31.85 but come tomorrow it will go to 31.99 at PTT and many other fuel stations. With diesel prices going up from 31.85 to 31.99, it basically takes it back to the same price a few weeks ago before they lowered it to the current 31.85 price...up, down, up, down goes the price..

No it doesn't. It shows diesel at 29.85. Tomorrow it will be 29.99.

Nothing is listed at 31.85 at the site you gave. Maybe you didn't clear out your internet cache?

diesel.jpg

Yea, typo on my part...had 31.XX on the brain versus 29.XX.

[herb59]

Save energy, whereever you are.

[stoli]

I find this move very unusual. A new government will be showered with praise for not raising taxes, so they have nothing to gain by lowering them other than they will have to find another tax to offset the lose of income. For that they will be blamed. They can only lose face politically, and there will be no upside. Hmmm?