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Global diesel price jump worries Energy ministry

Global diesel price jump worries Energy ministry

13 Sept 11:42 Key points summarised by AI
  • Global diesel prices surged by US$2.74/barrel in a single day, causing serious concern at the Energy Ministry.
  • The ministry faces a critical decision: either allow domestic diesel prices to rise above the Bt30/litre ceiling or significantly increase subsidies from the already indebted Oil Fuel Fund.
  • The Oil Fuel Fund is currently over 100 billion baht in deficit due to existing subsidies on diesel and LPG.
  • The Energy Ministry is attempting to maintain current prices, particularly during the Songkran holiday, and is coordinating with the Finance Ministry to extend the diesel excise tax cut.
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