The Oil Fuel Fund Office (OFFO) has approved a reduction in the price of diesel to 32 baht per liter
OFFO Director Wisak Watanasap announced that the OFFO meeting approved a reduction in retail diesel prices by 50 satang per liter, resulting in a new retail price of 32 baht per liter. This change takes effect from May 15 onwards.
This is the second price adjustment in May and the sixth since February for a total reduction of 3 baht per liter. It not only helps alleviate the cost of living for citizens but also reduces transportation costs and obstacles to the nation’s economic recovery.
The reduction was prompted by falling global fuel prices, particularly diesel. From May 1st to 8th, the average price of diesel was US$86.42 per barrel – a decrease of 10.70 dollars compared to the previous month.
Additionally, the OFFO has seen an improvement in its financial status, with a deficit of 79.3 billion baht, divided between a fuel account deficit of almost 32.6 billion baht and an LPG account deficit of 46.7 billion baht. (NNT)