Ministry of Energy reiterates discussions with Treasury to reduce taxes to take care of diesel prices

Bangkok, Ministry of Energy reiterates discussion with Treasury to reduce taxes to take care of diesel prices after fixing the price at 33 baht until the end of October 2024. Deputy Prime Minister and Minister of Energy Pirapan Salirathavibhaga revealed that the fixing of diesel prices at 33 baht per liter until the end of October will be discussed by the Ministry of Energy and the Ministry of Finance and will set up a working group to set guidelines. The Ministry of Energy proposed a reduction in excise taxes on diesel to support the price not to exceed 33 baht per liter and reduce the impact on the Oil Fund, which is currently in the red by more than 100 billion baht. For the progress of the amendment of the law to manage oil prices, a new law is currently being drafted to replace the Oil Fund Act of 2019, which has been used to manage and create stability in oil prices. An effort will be made to have it come into effect by the end of this year. Mr. Kongkrapan Intarajang, Chief Executive Officer and Pre sident of PTT Public Company Limited (PTT), said that maintaining the electricity bill for the period of September-December 67 fixed at 4.18 baht per unit is to ease the burden of the people. PTT is ready to take care of the people by delaying the natural gas bill, which will be the burden of the period at the end of 2023, which will not affect the financial position and performance this year. However, in this electricity bill management, the Electricity Generating Authority of Thailand (EGAT) is responsible for most of the budget. As for the progress of PTT's business plan, it is expected that there will be clarity within August. Source: Thai News Agency