Thailand diesel price drops 2.14 baht from April 9
Thailand will cut diesel price by 2.14 baht per litre from tomorrow, April 9, marking a historic first-time reduction in fuel prices.
Energy Minister Akanat Promphan, who also chairs the Fuel Fund Management Committee, said refinery prices for both B7 and B20 diesel would be reduced by 2 baht from tomorrow. The move will lower retail prices at petrol stations nationwide by 2.14 baht per litre.
Under the new rates, B7 diesel will be priced at 48.40 baht per litre, while B20 diesel will fall to 43.40 baht per litre.
Akanat said the government was able to lower the price by using a new Singapore market reference pricing formula and through cooperation from refineries.
According to the miniter, the Oil and Gas Management Committee also approved a reduction in the diesel subsidy rate provided by the Oil Fuel Fund Office, following a continued decline in global oil prices.
Officials said the global diesel price stood at about US$293 per barrel on April 2 before falling to around US$255 per barrel yesterday, April 7.
Despite the lower subsidy rate, Akanat said the financial position of the Oil Fuel Fund Office remained a concern.
At the end of the press conference, Akanat said cooperation remained key to handling every crisis. He thanked the public for understanding the global situation and also thanked refinery operators for their support.
Akanat added that the price cut is expected to ease the cost of living and act as a key driver to support Thailand’s economy amid global uncertainty.
Separately, Bangchak also shared a good news with the public, saying the Liberian oil tanker MT POLA, which had been hired to deliver fuel by the company, passed through the Strait of Hormuz and arrived at a refinery in Si Racha, Chon Buri, this morning.
The tanker was reported to be carrying 300,000 barrels of crude oil from the Middle East before stopping in Singapore to load a further 300,000 barrels and continue to Thailand.
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