Thai Energy Ministry to adjust energy price structure

[webfact]

Energy Ministry to adjust energy price structure

BANGKOK, 6 January 2015 (NNT) – The Ministry of Energy will be re-adjusting the energy pricing structure of oil, LPG, and NGV gas further to reflect the real costs, said an official.

The Permanent-Secretary of Energy Areepong Bhoocha-Oom has mentioned about the drop of petroleum price in the global market to USD 50 per barrel that this will help reduce the living cost of the public, especially in transportation costs.

He said that the Ministry will take this opportunity to adjust the pricing structure of oil, LPG, and NGV gas to reflect the true cost.

For LPG gas, said the Permanent-Secretary, the Energy Policy and Planning Committee will not make any changes to the current retail price at 24.16 baht per kilogram, but the committee will adjust the pricing of the gas at the refinery down from 333 US Dollars per ton.

If the LPG pricing in the global market continues to recede, the committee might consider reducing the retail price, said the Permanent-Secretary.

The Permanent-Secretary of Energy said that there is a possibility for adjusting the NGV price structure to below 60 baht per kilogram as the lower oil price reduces the cost of NGV manufacturing, which the Ministry has already ordered the PTT Public Co.Ltd. to study the cost that better reflects the current situation.


-- NNT 2015-01-06

[wesleyh]

Maybe i'm not correct with my thinking, but do we really want to have a study(about the oil price) that should be executed by a neutral party

that now will be executed by a stock quoted company wich it's main income is oil ? A stock quoted company is there to serve it's shareholders

interests not the general public ones. I'm sure The Ministry of Energy means well but i'm not sure this is the way to do it, but then again maybe i'm wrong.

[chotthee]

Taxi fares just went up.

What an irony.

Thank you Prayuth 3 times.

[monkeycountry]

Maybe i'm not correct with my thinking, but do we really want to have a study(about the oil price) that should be executed by a neutral party

that now will be executed by a stock quoted company wich it's main income is oil ? A stock quoted company is there to serve it's shareholders

interests not the general public ones. I'm sure The Ministry of Energy means well but i'm not sure this is the way to do it, but then again maybe i'm wrong.

You are right in principle, but since the majority of PTT's shares are held by the finance ministry, the public will get whatever study they want, assuming of course the finance ministry works in the public interest.