This article is 21 years old. Images might not display.
In a statement Pinij said, “[The cap] is to curb the prices of products, and to ease the impact of the current oil price hike on the Thai economy.”
“However, the government will have to spend over 50 billion bahts (US$1.21 billion) to shoulder the state oil fund by that time,” added the official without elaborating further.
So far this year, Thailand’s state oil fund has spent around US$571 million to subsidise domestic fuel prices. However, as of 16 August, the price of octane-95 premium petrol went up to US$0.51 per litre and octane-91 went up to US$0.49. Diesel prices remain at US$0.35.
