BANGKOK, April 1 (Bernama) -- Thailand’s diesel price is set to rise by 3.50 baht per litre from Thursday (April 2), after the Oil Fuel Fund Management Committee approved a reduction in diesel subsidy rates on Wednesday.
In a statement, the committee said the decision was driven by continued volatility in global oil prices, which remain elevated with an upward trend.
“At its meeting today, the committee resolved to reduce the diesel subsidy under the Oil Fuel Fund by 4.11 baht per litre, from 21.89 baht to 17.78 baht per litre, in line with market conditions and to maintain the fund’s liquidity,” it said on Wednesday.
Following the decision, the domestic retail price of diesel will increase to 44.24 baht per litre, effective April 2.
The committee added that the subsidy reduction is expected to lower the fund’s expenditure by approximately 362.76 million baht per day, from about 1.80 billion baht to around 1.47 billion baht daily.
“Allowing retail prices to better reflect actual costs is necessary to ensure the long-term sustainability of the Oil Fuel Fund,” it said.
This marks the third diesel price increase in recent days, following rises of 6.00 baht on March 26 and 1.80 baht on March 31.
A check at a Bangchak Corporation petrol station on Wednesday showed Gasohol 95 priced at 42.05 baht per litre, Gasohol 91 at 41.68 baht, and Diesel B7 at 40.74 baht.
-- BERNAMA
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