Thailand considering oil tax cut, finance minister says

Bangkok, September 21 - Thailand is contemplating a reduction in oil tax, Finance Minister Ekniti Nitithanprapas announced on Monday. Ekniti explained that cutting the excise tax on fuel would alleviate the public's cost-of-living pressures exacerbated by the energy crisis. The minister noted that all other measures have been exhausted, with Thailand already lowering refinery margins and utilizing its Oil Fuel Fund to stabilize prices.

Ekniti added that the tax cuts would benefit blended biofuels such as E20 and B20, supporting farmers. He emphasized that any tax reduction would not impact Thailand's fiscal position, a key factor considered by credit rating agencies. Ekniti also stated he would request approval for prolonging the consumer subsidy scheme during a cabinet meeting on Tuesday.