Extra B6.7bn fuel subsidy to come from energy fund
The government has approved the use of 6.7 billion baht from the Energy Conservation Fund (Enconfund) to help contain rising fuel prices, according to an energy official familiar with the matter.
The Thai government has approved the use of 6.7 billion baht from the Energy Conservation Fund to help mitigate the impact of rising fuel prices caused by global oil price volatility. The Finance Ministry approved the measure on October 22 as part of efforts to ease the burden on consumers. However, officials acknowledge that the amount is insufficient to fully offset oil price fluctuations, leading Energy Minister Akanat Promphan to introduce additional measures on October 28, including lowering Thailand's gross refining margin and slowing increases in domestic fuel prices.
The allocation represents the first tranche of a planned 14-billion-baht withdrawal from the Energy Conservation Fund, which is currently facing a debt of around 105 billion baht.
Brief written by urgent.news from Bangkok Post Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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- Extra B6.7bn fuel subsidy to come from energy fund bangkokpost.com
