20 Oct 2021 Mr. Supattanapong Punmeechaow, Deputy Prime Minister and Minister of Energy Revealed after the meeting of the Energy Policy Executive Committee (MPG) on October 20, 2021 that the meeting has approved guidelines for implementing measures to mitigate the effects of rising fuel prices. by returning to use the original 3 grades of oil formula, namely high speed diesel B7, with normal high speed diesel (B10) and high speed diesel B20, by canceling B6 diesel but confirming that the price of diesel oil group will not be fixed. Exceeding 30 baht / liter by specifying the retail price difference between B7 and B10 at 0.15 baht per liter and between B7 and B20 at 0.25 baht per liter, including maintaining the marketing cost of high-speed diesel fuel, not more than 1.40 baht per liter
This measure to help with price tensions will be implemented on November 1, 2021 using the existing fuel fund (as of October 17, 19, the fund position is 9,207 million baht. ) to maintain the retail price of diesel fuel not exceeding 30 baht per liter, which is expected to spend around 5,000 million baht per month. At the same time, may use the right to use the Fuel Fund Act. to request an additional 20,000 million baht loan to take care of oil prices during the next 3-4 months in a situation where oil prices are still high
“The Ministry of Energy continues to monitor global crude oil prices. And if in the case of Dubai crude oil price is still more than 87.5 USD per barrel And it seems that it will not decrease until it affects the retail price in the country. It may result in the oil fund’s status being insufficient to maintain the price of not more than 30 baht per liter. Therefore, the Ministry must find other channels to enter more. Ministry of Finance to other measures to be added Including the use of the excise mechanism is another tool that may be used to freeze the price of oil,” said Supatanapong.
Mr. Supattanapong said that the loan under the Fuel Fund Act Must consult with the Ministry of Finance first. to be listed in the public debt plan to bring money to help people continue However, the Department of Energy speculates that oil prices may weaken as the climate warms. And as a result, the price of crude oil may weaken accordingly. But there may be changes which must be closely monitored. which the government confirms that it has done its best to help people by taking various measures to take care
“Crude oil prices remain volatile after reaching their highest level in three years, under pressure from US industrial data. from the economic recovery from preparing to open the country in many countries economic recovery natural gas crisis, etc. The Ministry of Energy will closely monitor the energy price situation in the world market. to prepare for the issuance of measures to mitigate the impacts on the people, both on oil Liquefied Petroleum Gas and Electricity to be fair appropriate,” said Mr. Supattanapong.
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