PATTAYA, Thailand – A government committee chaired by Deputy Prime Minister Ekniti Nitithanprapas has mandated a recalculation of refinery and marketing margins to lower energy costs for consumers.
The Committee on Fuel Cost Study sought to finalize these adjustments by April 6 for a cabinet presentation next week. The move is aimed at reducing retail pump prices in time for the Songkran festival, providing financial relief to millions of citizens ahead of the national holiday.
“Current refinery margins may be disproportionate,” Ekniti told reporters, noting that certain costs currently factored into the price—such as shipping and insurance—are not actually incurred by all operators.
The minister also called for a realistic reassessment of “War Premiums” linked to Middle East tensions. He said that Thai refineries do not source all their crude from that region. As a result, the Ministry of Energy has been tasked with consulting refineries to examine ‘War Premium’ costs based on actual expenditures, ensuring a more accurate calculation of refinery margins. The government aims to strip away these “abnormal costs” to reflect true operational expenses. If approved, the move would provide immediate financial relief to millions of Thais traveling across the country for the traditional New Year holidays starting April 13. (TNA)
