BANGKOK, 6 June 2012 – The country’s energy policy council has approved an increase in the contribution from domestic petrol sales to the State Oil Fund, effective Wednesday.
Energy Minister Arak Chonlatanon said that the National Energy Policy Council meeting has approved the proposed increase in the contribution of diesel, benzene and gasohol sales to the State Oil Fund after global oil prices continued to fall.
Under the increase plan, for each liter of diesel and regular and premium benzene sold, 0.90 baht will be sent to the Fund, while 0.30 baht will be taken from every liter of gasohol sold.
Mr. Arak said that the decision to increase the oil sales contribution was intended to keep oil business operators’ marketing margin in check while promoting the use of gasohol in Thailand as well as to help ease the burden of the State Oil Fund, which is still in a minus to the tune of 22 billion baht as of today.
He stated that the higher allocation will raise the daily State Oil Fund contribution from 81 million baht to 143 million baht.