The Board of the Oil Fuel Fund has resolved to subsidize diesel prices by 1.65 baht per lire to maintain the retail price at 32 baht per litre after the diesel excise exemption measure expires on July 20, says the Oil Fuel Fund Office (OFFO).
The OFFO director Wisak Wattanasap said the Fuel Fund Executive Committee agreed to use the mechanism of the oil fuel fund to maintain the retail diesel oil prices at 32 baht per litre after the diesel excise tax reduction measure of 5 baht per liter ends on July 20.
The implementation of using the oil fuel fund to manage the diesel price is scheduled to commence from July 21 and will continue for a certain period depending on its liquidity.
The initiative to stabilize retail diesel prices aims to assist the public in minimizing the impact on living expenses while the country’s economy is recovering. The subsidy of 1.65 baht per liter will start from July 21 onwards. As of July 16, the oil fund was 49.829 billion baht in the red – 4.316 billion baht for oil and 45.513 billion baht for LPG (TNA)
