Home World good news? ‘Treasury’ ready to reduce ‘diesel tax’ if the world market moves high Lean Thai prices close to ASEAN

good news? ‘Treasury’ ready to reduce ‘diesel tax’ if the world market moves high Lean Thai prices close to ASEAN

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good news? ‘Treasury’ ready to reduce ‘diesel tax’ if world market prices rise Compare the selling price of ASEAN at a level similar to other countries

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Date 18 Oct ’64 Mr. Pornchai Thiravej The director of the Fiscal Policy Office (FPO) as a spokesman for the Ministry of Finance said that the problem of higher diesel retail prices was a result of higher crude oil prices in the world market, which has continued to rise to $83.53. US per barrel This was a result of the global economic recovery from COVID-19 coupled with rising oil demand as the winter approaches, leading to higher global crude oil prices.

With such facts, the retail diesel price in the country on October 18, 21, was around 28 baht per liter, which increased by 16% compared to the beginning of the year (January 2021).

However, when comparing the retail price of diesel fuel in Thailand with other countries in the same region, it was found that The retail price of diesel fuel in Thailand is similar to that of other countries. (Singapore 53 baht per liter, Lao PDR 31.50 baht per liter, Cambodia 30.24 baht per liter, Philippines 28.69 baht per liter, Myanmar 26.95 baht per liter, and Malaysia (oil exporters) 17.42 baht per liter.)

to fix the above problem. The government therefore implemented a policy to maintain the retail price of diesel fuel. through the fuel fund This is the main mechanism for maintaining the retail fuel price level and having liquidity ready to operate. It has subsidized the retail price of diesel fuel at 1.99 – 4.16 baht per liter and has managed to reduce the marketing cost as well. That is, the use of such a mechanism is ready and sufficient to maintain retail prices diesel fuel under the current context.

As for the issue of excise tax reduction to solve such problems It may not be the time to implement such a mechanism at this time. Because the collection of fuel excise taxes is not intended to maintain energy prices. but primarily with environmental objectives.

However, in the past, the diesel excise tax rate was reduced to alleviate the burden of the people. Because at that time, the price of crude oil in the world market was at a high level. If the price of crude oil in the world market has increased. The government may continue to consider excise tax measures to alleviate the burden of the people.

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