BANGKOK, Thailand – The Oil Fuel Fund has reduced its levy on diesel for the third time in a week to prevent a price hike amid rising global oil costs.
The Oil Fuel Fund Executive Committee has approved a reduction in the amount of money it collects on diesel fuel by 0.70 baht per liter. The measure, which took effect today, is intended to stabilize the retail price of diesel at service stations.
Director of the Policy and Plan Bureau at the Oil Fuel Fund Office Pornchai Jirakulpaisarn said the decision was made in response to rising global oil prices. He attributed the increase to ongoing unrest in the Middle East.
This latest move marks the third time in one week that the diesel levy has been cut. It will reduce the fund’s daily revenue from diesel sales from approximately 62.97 million Thai baht to around 19.47 million Thai baht. Revenue from gasoline remains unchanged.
Director Pornchai stated that the committee is using its authority under the Oil Fuel Fund Act to manage the cost of living for the public. He affirmed that the committee will continue to monitor the global energy situation closely and adjust measures as necessary. (NNT)
