The Ministry of Energy has announced that it will adjust energy prices to reflect the true costs without impacting people’s cost of living, following a recent decline in global energy prices
The ministry also called on political parties to avoid promoting unrealistic energy price policies that could have a negative impact on Thailand’s energy infrastructure and fiscal discipline.
Phisut Phienmonkun, Secretary to the Minister of Energy, said the ongoing conflict between Russia and Ukraine is causing volatile energy prices, triggering an economic crisis in some countries and impacting Thailand’s domestic energy market.
The ministry has already issued several measures to assist the public during this period, including reducing marketing margins for oil retailers, providing oil price subsidies from the Oil Fuel Fund, and slashing taxes on fuels.
With energy prices now falling, the ministry aims to adjust prices to reflect true costs while ensuring that future budget issues are avoided. (NNT)
