The Thai government has promised to do its best to keep the price of diesel at no more than 30 baht/litre for as long as possible, said a tired-looking Prime Minister Prayut Chan-o-cha at the Government House, after chairing a meeting of the National Energy Policy Committee this afternoon (Wednesday).

Prayut said there are also benzene and liquefied petroleum gas (LPG), the prices of which the government will try to manage, including the use of tax measures and the Oil Fund, in a way which will have the least impact on people, as global oil prices rise steadily due to the war in Ukraine.

According to Reuters today, Brent crude was down $3.56, or 2.8%, to $124.42 a barrel, after earlier rising above $131.  On Monday, however, Brent hit $139, its highest since 2008.

The most important consideration, he stressed, is what we do to enable the country to move forward under the present circumstances.

Citing the prices of fertilisers, which are also surging, the prime minister said he will call a meeting of specialists to find out if there are any minerals in Thailand which can be used to make fertilisers, to reduce the country’s dependence on imports.

As most of the government’s budget has been spent on or allocated to the containment of the COVID-19 pandemic and treatment of the infected, the prime minister said that measures to address other issues will be undertaken within the context of a limited budget.