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Thailand Plans Significant Reductions in Energy Prices
The plan includes the liberalization of refined oil import restrictions, which is expected to help control oil prices more effectively. The government has already approved measures to maintain diesel prices and cap electricity tariffs for households.
BANGKOK (NNT) – Deputy Prime Minister and Energy Minister Pirapan Salirathavibhaga has announced a comprehensive plan to restructure Thailand’s energy pricing system, aiming to alleviate the burden of high energy costs.
- The reform includes relaxing regulations on the import of refined oil, which is expected to help control oil prices more effectively and face resistance from oil refineries and related businesses.
- The government has already taken steps to lower energy prices, such as maintaining diesel prices below a certain limit and capping electricity tariffs for households, with further measures planned to reduce costs for specific groups like farmers.
The cost of liquefied petroleum gas and cooking gas will also be kept stable, and petrol prices will be reduced until the end of January. Further measures to reduce energy prices for specific groups, such as farmers, are anticipated.
The restructuring aims to make fuel and energy costs more affordable, ensuring energy security and sustainability for the country. However, Pirapan acknowledges the challenges ahead, anticipating resistance from oil refineries and related businesses that have profited from the current high energy prices.
Key to this reform is the relaxation of regulations that currently prohibit the import of refined oil. This measure is expected to help control oil prices more effectively in Thailand, a policy outlined by the Pheu Thai Party-led coalition.
Behind the scenes, efforts have already begun to lower energy prices. The government has recently approved measures to maintain diesel prices below 30 baht per liter and cap electricity tariffs for households using less than 300 units per month. These measures are part of a wider plan to reduce living costs and stimulate the economy.
The government has also proposed keeping the cost of liquefied petroleum gas and cooking gas stable and reducing petrol prices until the end of January.
Source : National News Bureau of Thailand https://thainews.prd.go.th/en/news/detail/TCATG240102113036392
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