A man waits as his truck is refuelled at a petrol station in Nonthaburi. (Photo: Pattarapong Chatpattarasill)
Authorities are benefiting from a drop in global crude oil prices by collecting levies from diesel and gasohol users through the Oil Fuel Fund to repay massive debts incurred by the fuel price subsidy programme, following the outbreak of the Israel–US war on Iran in late February.West Texas Intermediate and Brent benchmarks have fallen by 9% on average, from US$84.8 and $87.3 per barrel respectively on June 12 to $76.6 and $79.23 per barrel on June 18, said Thai Oil Plc, the country's largest refinery by production capacity.
Before the war, Brent crude prices averaged between $63-70 per barrel, according to media reports.
The drop caused motorists to expect they would be able to buy cheaper fuel, but they will not see a significant decrease in retail fuel prices for some time, said an energy official who requested anonymity.
"This is because it is time for the government to pay back money to oil traders," he said.
