PATTAYA, Thailand – In the wake of the recent announcement detailing a maximum reduction of 2.50 Baht per liter for gasoline and diesel, effective November 7, 2566, people are thronging to gas stations. The news, unveiled through a collaborative effort between PTT and Bangchak, outlining retail price adjustments (excluding diesel), has ignited a palpable buzz at various petrol stations nationwide.
The decision to slash gasoline and diesel prices by 2.50 Baht per liter and 1 Baht per liter, respectively, has sparked enthusiasm among car and motorcycle owners. Eagerly lining up at the pumps, they anticipate the initiative’s commencement on November 7, 2566, at 5 a.m. heralding a welcome relief for those patiently awaiting a positive shift in fuel prices.
Ms Chidchom Nadi, a 65-year-old motorcycle taxi driver parked at Koh Loy in Sriracha, expressed her joy at the reduced fuel prices, yet underscored the need for more substantial government interventions. She pointed out that high fuel prices was not the only burden on her livelihood, but other essentials like sugar, water, and electricity costs played equally significant roles. Despite acknowledging the benefits of reduced fuel prices, she emphasized the necessity for broader economic measures to address the challenges faced by the public.
Ms Chidchom’s sentiments resonated with others in similar professions. While the decreased fuel prices are a step in the right direction, they are perceived as a small reprieve amid broader economic challenges. Even as motorcycle taxi drivers enjoy a more affordable ride with fuel prices dropping to below 40 Baht per liter, they grapple with the burden of other rising costs.
In response to the current fuel price reduction, the government’s decision to lower the excise tax on petroleum products will impact state revenue collection. However, the Ministry of Energy emphasizes that this move is essential to alleviate the economic burden on the public during these challenging times of high fuel prices. The reduction in retail prices for gasoline and diesel (by 1 Baht per liter) will be in effect from November 7, 2566, until January 7, 2567, spanning a three-month period.
While this reduction serves as a welcomed New Year’s gift for the public, uncertainties persist due to the volatile nature of crude oil prices in the global market. Ongoing geopolitical tensions in the Middle East could potentially impact global oil prices, urging citizens to remain vigilant and adapt their fuel consumption habits accordingly.
