Diesel surge adds billions to fuel fund burden

13 Sept 13:20 Key points summarised by AI

Diesel prices surged by approximately two baht per litre, effective today, following a previous increase, prompting motorists to queue for fuel.
The Fuel Fund Executive Committee raised prices to maintain the Oil Fuel Fund's liquidity, as Singapore market diesel prices skyrocketed from US$92 to US$223 per barrel, adding 26 baht per litre to costs.
This surge will increase the Oil Fuel Fund's subsidy burden by about 2.4 billion baht per day (70 billion baht per month) for diesel and other refined oil products.
Despite capping the diesel price at 33 baht per litre, urgent retail price increases are necessary to prevent oil smuggling due to lower domestic prices compared to neighboring countries like Malaysia.
The price hikes directly impact consumers and vendors, with gasohol prices also increasing significantly.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.