Bt2 refinery price cut for B7, B20 - Energy minister

The Energy Policy and Planning Committee agreed today to cut the ex-refinery prices of B7 and B20 biodiesel by two baht per litre, Energy Minister Akanat Promphan told the media after discussions with representatives of six refineries.

In addition to the biodiesel price cut, he said the committee had also agreed — in an unprecedented move — to use the Singapore price benchmark for refined oil products to determine domestic oil prices, including ex-refinery prices, in the future.

Regarding retail prices, the minister said that after the new ex-refinery prices for B7 and B20 biodiesel are announced in the Royal Gazette tomorrow, the committee will immediately consider reducing pump prices.

Akanat thanked the refineries for their cooperation with the government in helping ease the impact of the oil crisis on consumers.