The Oil Fuel Fund Office (OFFO) has announced another decrease in its price cap on diesel by 0.50 baht per litre effective on March 24 to help reduce the cost of living.
The new retail price will be 33.50 baht per litre.
The OFFO director Wisak Watanasap said the state oil fund is less than 100 billion baht in the red as the Cabinet extended the excise tax cut on diesel by five baht per litre for another two months from May 21 to July 20.
The global oil prices tend to decline and are stable. The diesel reference price in Singapore dropped to US102 per barrel on average in March.