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Thai energy expert urges fuel price structure reforms

Thai energy expert urges fuel price structure reforms

13 Sept 13:03 Key points summarised by AI
  • An energy expert from TDRI urges the Thai government to reform its fuel price structures, reduce overlapping taxes, and move away from unsustainable subsidies to mitigate economic vulnerability to global oil price fluctuations.
  • Thailand's high dependence on crude oil and gas imports (8% of GDP) makes its economy susceptible to global price volatility, impacting all sectors from transportation to farming, necessitating a gradual reduction in imports.
  • The expert advocates for easing policy constraints, such as the 'enhanced single buyer model', to attract private investment in domestic renewable energy sources like solar, wind, and bioenergy, boosting the country's energy security.
  • To navigate the global energy crisis, Thailand must prioritize strengthening energy resilience through strategic petroleum reserves, promoting increased domestic production, and ensuring a sufficient oil supply at fair prices.
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