Cabinet cuts excise tax on E20 and B20 fuels
Thailand’s Cabinet agreed today to slash excise tax on E20 and B20 fuels by 5.60 baht/litre and 5.50 baht/litre respectively for three months to encourage the public to switch to these two types of fuel.
Prime Minister Anutin Charnvirakul said that the tax reductions on E20 gasohol and B20 bio-diesel will help farmers, transport operators and the general public, adding that he wants more people to use these types of fuel, which would increase the demand for agricultural products needed to produce them.
The Energy Ministry is scheduled to meet this afternoon to set the pump prices for the two fuels in line with the excise tax cuts.
The prime minister said that the tax cuts are not only intended to ease the cost of living, but also to help the agricultural sector, because both E20 and B20 are blends of fossil and biofuel.