Thailand’s Energy Policy Administration Committee (EPAC) has decided to retain the 2.40 baht/litre cut in the ex-refinery prices of B7 and B20 diesel for another 31 days, until September 15.
According to Energy Minister Akanat Promphan, the EPAC will use about 4.475 billion baht from the surplus profits, totaling 9.735 billion baht, earned by the six oil refineries between January and July, to fund the diesel price cut for another month.
The energy minister said that the government is fully aware of the impacts of high global oil prices on the Thai public and decided to make use of the surplus profits earned by oil refineries to help cushion those impacts by cutting the ex-refinery price of diesel.
The government will continue to monitor global oil prices and costs of oil refining closely to ensure fairness to all stakeholders.
