B2.40 per litre reduction won’t be reflected immediately in retail prices but could prevent increases
(Bangkok Post file photo)
Thai energy authorities have approved a reduction of the diesel ex-refinery price by 2.40 baht a litre to curb rising domestic fuel prices as global oil prices fluctuate.The Brent crude benchmark settled above $100 per barrel for the first time in two months on Thursday, after Houthi rebels in Yemen attacked two Saudi oil tankers in the Red Sea, as the conflict between the US, Israel and Iran intensifies.
The ex-refinery price reduction, applicable until Aug 15, should not result in an immediate cut in pump prices, but can prevent or slow an increase, said authorities.
The Energy Policy Administration Committee, chaired by Energy Minister Akanat Promphan, approved the use of 3.89 billion baht in profits from six refineries to cut the ex-refinery prices, according to the Fuel Fund Executive Committee.
