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

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 2^nd, which includes 45 billion baht in losses from oil subsidy and 46.8 billion baht from the LPG subsidy.