Authorities will continue to negotiate with oil refineries as part of efforts to reduce retail oil prices for consumers.
Energy Minister Supattanapong Punmeechaow said negotiations with oil refineries are still ongoing to ensure their contribution to reducing refinery margins. This in turn would lower retail oil prices that motorists have to pay. Some refineries have opposed the deal, citing differences in operating costs between various companies. The minister noted that more data, particularly costs and profits, are required to ensure fairness in these negotiations.
If oil refineries agree to the deal, the government is expected to earn around 20 billion baht over a three-month period. These earnings will significantly improve the liquidity of the Oil Fuel Fund, which subsidizes oil prices and is currently about 86 billion baht in the red.
Minister Supattanapong added that the ministry is in discussions with all relevant parties to ensure that these negotiations are concluded as soon as possible with the consensus from all parties. He also said he hopes to submit the plan’s legal details to the Cabinet soon. (NNT)
 |
 |
 |
