Diesel surge adds billions to fuel fund burden

อัพเดต 2 ชั่วโมงที่ผ่านมา • เผยแพร่ 15 ชั่วโมงที่ผ่านมา • Thai PBS World

The diesel price, which was increased by about 50 satang per litre just a week ago, rose by approximately another two baht per litre, effective at 5am today, prompting many motorists to queue at service stations since last night to fill up.

The Fuel Fund Executive Committee said yesterday that the price increases were necessary to maintain the liquidity of the Oil Fuel Fund, after diesel prices on the Singapore market skyrocketed from US$92 to US$223 per barrel, translating into an additional cost of 26 baht per litre.

Pornchai Jirakulpaisarn, director of the Office of Policy and Planning at the Fuel Fund Office, said that the additional cost will raise the Oil Fuel Fund’s financial burden in subsidising the prices of diesel and other refined oil products by about 2.4 billion baht per day, or about 70 billion baht per month.

The Fuel Fund Executive Committee decided yesterday to cap the diesel price at 33 baht per litre.

As such, it is urgent that retail oil prices increase to maintain the liquidity of the Oil Fuel Fund, according to Pornchai.

He added that the pump price of diesel in Malaysia, which was increased to 32.40 baht per litre on March 16, has already been readjusted to 38.70 baht per litre.

He said that keeping diesel prices at a low level compared to neighbouring countries would encourage oil smuggling out of the country for profiteering.

Many motorists were reported to have queued at service stations across the country since early this morning to fill their vehicles ahead of the latest price rise.

One vendor said that the diesel price increase would directly affect his income due to higher costs.

For gasohol, an initial announcement at about 7pm said the price would rise by 1 baht, but this was revised to a 2-baht increase at about 10pm.

Fuel prices at PTT service stations today are:

• Diesel: 32.94 baht per litre

• Gasohol E85: 26.79 baht per litre

• Gasohol E20: 30.05 baht per litre

• Gasohol 91: 34.68 baht per litre

• Gasohol 95: 35.05 baht per litre

• Benzine: 43.64 baht per litre

• Super Power Diesel: 46.64 baht per litre

• Super Power Gasohol 95: 44.04 baht per litre

Fuel prices at Bangchak service stations are: