The source said if the Finance Ministry had to extend the excise cut, the cut would be Bt1.50, not Bt3 as in the current practice. Without the tax cut and partial subsidy, the diesel price would have risen to Bt38 per litre from Sunday, the source added. So far, the government has lost its revenue by Bt17.1 billion from the excise tax cut for diesel from February 18, the source said. Initially, the Excise Department projected revenue from oil excise tax for 2022 at Bt200 billion. But when the government cut the diesel excise for three months, the department lowered its projected income from oil tax to Bt180 billion, the source said.

Source: The Nation Bangkok May 02, 2022 08:01 UTC