BANGKOK, Thailand – Thailand will reduce retail prices for most petrol and gasohol grades by 0.50 baht per litre and regular diesel by 1 baht, effective November 11, following a decline in global oil prices. The Oil Fuel Fund Management Committee approved the reductions on November 10, citing easing concerns over tensions between the United States and Iran and expectations that oil transportation would improve.
On November 10, global diesel prices closed at approximately US$149 per barrel, down from US$162 on November 6. Gasoline prices fell to around US$103 per barrel from US$111 over the same period.
For diesel, the reduction in the subsidy for regular high-speed diesel will be 0.34 baht per litre, bringing the subsidy to 2.18 baht. The retail price will fall to 40.79 baht per litre.
For B20 diesel, the subsidy will be reduced by 1.12 baht to 2.93 baht per litre, leaving the retail price unchanged at 33.50 baht. The premium diesel levy will remain unchanged at 1.50 baht per litre.
For petrol and gasohol, the committee will increase oil fund contributions by 0.29 baht per litre for benzine, bringing the contribution to 11.17 baht and the retail price to 48.83 baht.
Gasohol 95 and Gasohol 91 contributions will each rise by 0.23 baht to 3.22 baht per litre. Their retail prices will be 39.34 baht and 38.97 baht respectively.
The contribution for Gasohol E20 will increase by 0.15 baht to 2.55 baht per litre, with its retail price falling to 31.30 baht. Gasohol E85 is excluded from the price reduction, with its subsidy reduced by 0.19 baht to 0.90 baht per litre, leaving its retail price unchanged at 30.63 baht.
The committee said lower global oil prices provided an opportunity to ease the cost of living for the public while improving the liquidity of the Oil Fuel Fund. The fund currently incurs expenses of approximately 89 million baht per day, with its financial position estimated at a deficit of around 100.082 billion baht.
