Local petrol sales contribution to State Oil Fund to go up from Friday

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BANGKOK, 25 May 2012  – The National Energy Policy Committee is to start collecting more contribution from petrol sales to the State Oil Fund from Friday on. 

Energy Minister Arak Chonlatanon said that the National Energy Policy Committee’s meeting on Thursday, which he chaired, has resolved to collect, for the State Oil Fund, 0.90 baht from every liter of diesel sold from Friday. The amount is increased from the previous collection of 0.60 baht per liter.

A 0.50-baht increase has also been decided for Benzene-91 and Benzene-95 sales, resulting in a contribution of 4.50 baht per liter.

Mr. Arak said that the decision to raise the higher State Oil Fund contribution has inevitably led to stable retail gasoline prices, despite falling global crude prices.

He stated that the increase in the contribution is important to help push the State Oil Fund’s minus-22.6 billion baht status back into the positive territory.