Skip to content
View in the app

A better way to browse. Learn more.

Thailand News and Discussion Forum | ASEANNOW

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

NRSA: Oil Fund must be reformed

Featured Replies

NRSA: Oil Fund must be reformed

BANGKOK, 16 February 2016 (NNT) – The National Reform Steering Assembly has determined that the Oil Fund must be reformed to ensure transparency and energy stability.


Member of the NRSA’s Committee on Energy Reform Prapas Kong-ied said on Monday that, because the Oil Fund plays a vital role in regulating oil prices which have a vast impact on the well-being of the people, there must be reform of the fund.

Mr. Prapas’s statement was heard during the NRSA’s meeting related to the Oil Fund and the draft Oil Fund Act.

Mr. Prapas said that reform of the Oil Fund would help make sure that its use was clearly understood and executed with the aim of helping promote energy stability and the efficiency of the energy system in the country, in such a way that is fair to all consumer groups.

He added that it is necessary for the country to have a law to govern the Oil Fund, containing such details as the fund’s role and its management policies.

nntlogo.jpg
-- NNT 2016-02-16 footer_n.gif

Meaning, a law is needed to prevent the meddling and abuse of politicians.

Current Oil Fund seems to be working just fine...maybe that's why politicians want to change it.

Current Oil Fund seems to be working just fine...maybe that's why politicians want to change it.

Really? Not too long ago, benzene users were subsidizing users of diesel and LPG.

Current Oil Fund seems to be working just fine...maybe that's why politicians want to change it.

Really? Not too long ago, benzene users were subsidizing users of diesel and LPG.

So? One of the the Oil Fund's goal to to keep prices of all the various fuels at whatever level the govt considers the most beneficial to all fuel users and the country at the time; not just one group of fuel users. Benzene (a.k.a., gasoline, petrol) has frequently been taxed at a higher amount under the Oil Fund in trying to steer folks towards other fuels such as gasohol/ethanol bends, LPG, etc. And with diesel still being a (the) primary vehicle fuel used in Thailand (especially in transport of goods/materials/people) keeping diesel fuel prices lower also lowers the cost of living.

As FYI, below is a snapshot from the Thailand Energy Policy and Planning Office, Ministry of Energy, regarding the current price structure as of 16 Feb 16 of various fuels and the various taxes/markups applied to include the Oil Fund's slice. You will see the Oil Fund is heavily subsidizing some of the gasohol blends indicated by a negative amount under the Oil Fund column. A positive amount in the Oil Fund column means a tax is being applied. It's basically a Rob Peter to Pay Paul process. And you know it also comes down to maintaining a certain level of tax revenue by looking at the columns with "tax" in the title.

http://www.eppo.go.th/retail_prices.php

post-55970-0-43887200-1455594792_thumb.j

Current Oil Fund seems to be working just fine...maybe that's why politicians want to change it.

Really? Not too long ago, benzene users were subsidizing users of diesel and LPG.

So? One of the the Oil Fund's goal to to keep prices of all the various fuels at whatever level the govt considers the most beneficial to all fuel users and the country at the time; not just one group of fuel users. Benzene (a.k.a., gasoline, petrol) has frequently been taxed at a higher amount under the Oil Fund in trying to steer folks towards other fuels such as gasohol/ethanol bends, LPG, etc. And with diesel still being a (the) primary vehicle fuel used in Thailand (especially in transport of goods/materials/people) keeping diesel fuel prices lower also lowers the cost of living.

And where is the lesson Adam Smith wanted to teach?

So now, those using diesel and LPG are lamenting at the current oil prices...

Create an account or sign in to comment

Recently Browsing 0

  • No registered users viewing this page.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.