The Fuel Fund Executive Committee decided today to freeze the retail price of diesel at 30 baht per litre by cutting refiners’ contributions to the fund by a further 15 satang per litre.
Additionally, the committee agreed to provide a 30 satang per litre subsidy from the fund to maintain the domestic diesel price at 30 baht per litre.
The move is intended to cushion the impact on domestic diesel prices in the event of an armed conflict with Iran, as threatened by US President Donald Trump, said Energy Minister Auttapol Rerkpiboon, in his capacity as chair of the Fuel Fund Executive Committee.
He said the measure would ease the financial burden on the transport, manufacturing and infrastructure sectors, ultimately benefiting consumers.
He added that the price of Dubai crude has increased by three US dollars per barrel this week in response to growing tensions in the Middle East.
As of February 15, the Oil Fuel Fund’s financial status stood at 1.7 billion baht. The accounts of other fuels showed a surplus of 39.9 billion baht, while the LPG account remained in deficit by 38.2 billion baht.
The Oil Fuel Fund previously recorded revenue of 10.8 million baht per day but is currently losing about 18 million baht a day.
