Subsidy on premium diesel revokedCooking gas becomes pricier for some people after the state allows traders to hike prices from April 1. (Photo: Apichit Jinakul)The cabinet on Tuesday approved revoking the subsidy on premium diesel used in luxury cars, effective from April, in a move to save on budget expenses. Rachada Dhnadirek, deputy government spokeswoman, said the cabinet's move also aims to reduce the financial burden on the state Oil Fund, which currently subsidises the diesel price at 8 baht per litre. Domestic diesel consumption totals about 65 million litres per day, 1.4 million of which belongs to premium diesel. Ms Rachada said the government may need to support the Oil Fund in the event of an emergency to create confidence among financial institutions that extend loans to the fund for use in the government's oil subsidy scheme.

Source: Bangkok Post March 30, 2022 03:23 UTC