The Thai government’s energy policy administration council has approved a proposal to subsidize the pricing of diesel in order to maintain the retail price at 30 baht.
Deputy Prime Minister and Minister of Energy Supattanapong Punmeechaow said the subsidy will be provided from the 9.2 billion baht Energy Fund to maintain the retail price of diesel at 30 baht per liter, as the increase of crude oil price has driven up the current retail price in Thailand to over such threshold.
The council has also approved a contingency plan to seek a 20 billion baht loan to support the Energy Fund in case of low liquidity, or should the Dubai crude oil price exceeds 87.5 US dollars per barrel.
The Minister of Energy said the government could lower the excise tax for petroleum to help bring down the retail price, which is an option exercised by previous governments.
Meanwhile, LPG prices will continue to be capped at 318 baht per 15-kilogram cylinder to help vendors and to prevent price increase of consumer goods.
The minister also mentioned that truck companies affected by the current situation are entitled to special Social Security benefits provided by the Ministry of Labour. Each operator can receive a payout of 3,000 baht per one employee, with a maximum amount capped at 200 employees.(NNT)