Diesel price cap to rise on SundayThe committee managing the Oil Fuel Fund yesterday approved a proposal to raise the diesel price cap from 30 baht per litre to 32 baht from Sunday, prompting a transport association to threaten to raise their service fees by 20%. As well as raising the price cap, the Energy Ministry, Oil Fuel Fund Office and other organisations will keep a close watch on global oil prices and make a weekly assessment on whether the price cap needs to be raised further, energy permanent secretary Kulit Sombatsiri said. If so, the diesel cap will climb by no more than 1 baht a week, while the new ceiling of the price cap will become 35 baht per litre despite the actual price of diesel already being well over 40 baht per litre, he said. Prime Minister Prayut Chan-o-cha, meanwhile, implored people to understand the need to raise the diesel price cap, government spokesman Thanakorn Wangboonkongchana said. Loans sought previously to also subsidise diesel prices have already been used up as well, said Gen Prayut, adding the government has been dedicating resources to supporting the diesel price subsidy because it is a major cost of consumer products and services.

Source: Bangkok Post April 29, 2022 07:15 UTC