Thailand’s price cap on diesel will last through May

In the midst of skyrocketing fuel prices around the world, Thailand’s diesel price cap at 30 baht per litre will last until the end of May. After that, a loan of 40 billion baht that supports the subsidy allowing the cap is expected to run out. Thailand’s deputy prime minister, who is also the energy minister, said the country must save energy while waiting for additional loans.

“We have to rely on ourselves… If everyone helps with energy saving, the cap will last long, and if prices go down, it will last even longer”.

On Wednesday, the National Energy Policy Committee decided to remove the borrowing limits set at 40 billion baht. This measure would require legal amendments, since the current law doesn’t allow the NEPC’s management to seek bigger loans than this.

The minister, Supattanapong Punmeechaow, said yesterday that the Energy Ministry and Finance Ministry will discuss how to help benzene users with state welfare cards. About 13.5 million people use these cards. He also said the government has helped people pay for cooking gas through its social welfare card scheme with a 45-baht discount.

Workers in a range of industries from boat tourism to land transport have been angered and scared by the impact of rising fuel prices on their livelihoods. On Thursday, the Federation of Thai Industries called on the government to stop the spike in fuel prices. In a survey, the FTI found that 75.2% of manufacturers were concerned about fuel costs.

SOURCE: Bangkok Post