No intervention on oil prices

Energy Minister Piyasvasti Amranand said on Wednesday that the government will never intervene domestic retail oil prices, despite the continued increases.

He said that intervention would cause long-term debt burden to the government and it is not the way to solve problems.

"We will intervene through the Oil Fund only in emergency cases such as the eruption of wars in the Middle East," Piyasvasti said.

He noted that oil prices are not the only factors that drive product prices and he said Thais should not be panicked over the latest hike in global oil prices.

- The Nation

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No intervention on oil prices

Energy Minister Piyasvasti Amranand said on Wednesday that the government will never intervene domestic retail oil prices, despite the continued increases.

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