Oil Fuel Fund

  • Business NewsMiddle East tensions may impact OFFO’s debt repayment strategy

    Middle East tensions may impact OFFO’s debt repayment strategy

    Rising tensions in the Middle East, particularly between Israel and Iran are anticipated to push global crude oil prices higher, potentially impacting the Oil Fuel Fund Office’s (OFFO) debt repayment strategy, according to a spokesperson from the Energy Ministry. Uncertainty surrounds whether the United States will back potential Israeli strikes on Iran’s oil infrastructure, raising concerns about oil price volatility,…

  • Business NewsThailand considers petroleum reserve amid oil price volatility

    Thailand considers petroleum reserve amid oil price volatility

    Thailand is considering various strategies to mitigate the impact of global crude oil price fluctuations, beyond merely subsidising domestic oil prices through the dwindling Oil Fuel Fund. One proposed solution is the development of a strategic petroleum reserve (SPR) to enhance national oil security and safeguard against potential supply disruptions caused by geopolitical conflicts. Energy Minister Pirapan Salirathavibhaga suggested the…

  • Business NewsFinance Ministry suggests using oil fuel fund for diesel subsidy

    Finance Ministry suggests using oil fuel fund for diesel subsidy

    The Ministry of Finance has suggested utilising the Oil Fuel Fund to maintain the subsidy on retail diesel costs, asserting that the fund has adequate resources to back the government’s diesel subsidy scheme. This advice comes from Deputy Finance Minister Krisada Chinavicharana, who iterated that the ministry is observing worldwide oil costs and the government’s revenue intake from May to…

  • Business NewsFuelling fears: Thai diesel price hike won’t ignite retail inflation

    Fuelling fears: Thai diesel price hike won’t ignite retail inflation

    The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) stated that a potential increase in domestic diesel prices, which could surpass 30 baht a litre following the termination of the Oil Fuel Fund subsidy scheme on March 31, is unlikely to prompt manufacturers to raise the prices of their goods. Prime Minister Srettha Thavisin revealed on Tuesday, April 2,…