Thai Energy Min to hike LPG, NGV prices this Oct

[webfact]

Energy Min to hike LPG, NGV prices this Oct

BANGKOK, 19 September 2014 (NNT) – The Ministry of Energy has decided to increase the prices of liquefied petroleum gas (LPG) as well as natural gas for vehicles (NGV) within next month while ensuring minimal impact on the public.

After conferring with executives of the ministry and related agencies, Energy Minister Narongchai Akrasanee revealed that a decision has been reached to adjust up the prices of LPG for transport use and NGV in order for them to correspond to the production costs. He, however, insisted that the changes will be imposed in a gradual manner, starting in early October, so as to create as little burden to motorists as possible. The rate of increment and other details are still pending further conclusions.

Moreover, according to Mr Narongchai, the assistance policy entitling up to 7.7 million registered low-income earners to discounts on cooking gas purchases will be maintained.

At present, the price of LPG for transport use is standing at 21.38 baht per kilogram, whereas the price of LPG for household use is 22.63 baht, prompting the need to narrow the price gap. NGV, meanwhile, is selling at 10.50 baht a kilo, much lower than the production cost of 15 baht.

In addition, the minister disclosed another plan to allow the price of diesel, which has been kept below 30 baht a liter for years, to float in accordance with the market mechanism after this October.


-- NNT 2014-09-19

[Bkungbank]

LPG are for personal car owner that will be fine but NGV for taxis without allowing to increase the taxi fare they cannot survive after deduct rental and gas NVG for normal taxi daily income was 1,000-1,300 rental 600, NGV 150-200 income bring back for family 300-500 Baht.

[tracker1]

watch Inflation UP !

[rickirs]

As the price of fossil fuels is allowed to rise in concert with the international market, it will provide the public with an impetus to support forms of energy that give the nation economic security. In the short-term price increases will cause pain (albeit some limited relief is still allowed) but in the long-term aid in overcoming societal barriers to build sustainable domestic energy sources. The Energy Minister's policy is sound.