In April, get ready to deal with diesel prices approaching over 30 baht/litre. Get ready to ask for central budget or excise duty cuts.
On March 27, 2024, the Fuel Fund Management Committee (FPF) meeting discussed the retail diesel price situation in countries where the Fuel Fund has announced compensation rates, said Mr. Visakh Vathanasab, Director, Office of Fuel Fund.
Board of Directors meeting Agreed to adjust oil finance rate. From April 2024 onwards, the retail price of petrol in the country will exceed 30 baht/litre for diesel fuel type. By fixing the oil finance rate. In the diesel fuel group
NBTC will consider various information as per the relevance of the period so as not to affect the living expenses of the people and management of the oil marketers too much. However, the transition period of 31 March – 1 April 2024 has not yet been firmly implemented. According to Cabinet (Cabinet) on December 19, 2023
However, diesel oil prices in the global market are currently at a high level of 104.03 USD/barrel. (Avg. 1 to 20 March 2024) Therefore the State Savings Bank is of the opinion that adjustment of the Capital Funding Rate should be considered. To align the domestic retail price of diesel fuel category with the world market price from April 2024 onwards. This means that the price of diesel fuel is likely to increase by more than 30 baht per liter.
In this regard, NPTC will bring various information. With the 2020 – 2024 Fuel Crisis Resolution Plan, every time there is an adjustment in the fiscal rate, it will affect the price of fuel. In terms of diesel fuel, this move will help improve the cash flow of the fuel fund. Funds can be used as an instrument to support the crisis situation of constantly fluctuating oil prices.
Also, the Fuel Finance Office will continue to coordinate with the Finance Ministry to discuss the rate of excise duty on diesel fuel.
For the estimated net fuel financial position as of March 24, 2024, it is negative 98,220 million baht, which is divided into negative 51,136 million baht for oil and negative 47,084 million baht for LPG gas.