Floating LPG price to begin in August

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Floating LPG price to begin in August

 

BANGKOK, 7 July 2017 (NNT) – The Energy Policy and Planning Office (EPPO) has moved forward with floating the price of Liquefied Petroleum Gas (LPG), allowing it now to move in line with oil and NGV prices. 

Energy Ministry Permanent Secretary Areepong Bhoocha-oom revealed EEPO has signed off on principles to float LPG prices from August 1 onward. The decision was made in anticipation of a future need to import more LPG but came with assurance that the government would continue to subsidize prices for low-income earners. 

EPPO Director-General Twarath Sutabutr explained LPG prices for domestic use in July will be maintained at 20.49 baht on capital cost, dropping 1.4262 baht from 15.0491 baht to 13.6229 baht, following a downturn in world prices. The freeze will be the last before LPG is allowed to float from August onward. 

The Ministry of Energy has already started talks with the Bureau of the Budget and the Ministry of Finance to care for low-income earners who will be impacted by LPG’s fluctuation. It assured the National Fuel Reserve Fund is still available to subsidize prices to protect consumers.

 

-- nnt 2017-07-07