6 June 2024

The Fuel Fund Executive Committee decided today (Monday) to cut the pump price of diesel by another 50 satang/litre, effective from April 7th.

This fourth price cut will bring the total price reduction since February to two baht and take the pump price of diesel from 33.50 baht/litre to 33 baht/litre, said Wisak Pattanasak, director of the Oil Fuel Fund Office.

He attributed the committee’s decision to the average wholesale cost of diesel in March, which was US$ 98.92 per barrel, representing a drop of 4.69 US dollars from February.

The average contribution to the fund by oil production companies for March was 5 baht/litre, he said, adding that the fund’s accumulated losses from the subsidy program, designed to cushion the impacts on consumers, had reduced to 91.8 billion baht by April 2nd, which includes 45 billion baht in losses from oil subsidy and 46.8 billion baht from the LPG subsidy.