Higher contributions for Oil Fund approved

Following the increase, if global oil prices decline, Thai consumers would not immediately enjoy a cut in domestic prices.  

Starting on September 23, oil retailers need to contribute Bt4 for every litre of octane-91 petrol sold. At present, the contribution was Bt3.60 per litre. While the rate for premium petrol is maintained at Bt4 and gasohol E20 is maintained at Bt0.30, that of gasohol 95 will be raised to Bt1.35 from Bt0.85 and gasohol 91 to Bt0.85 from Bt0.35.

 Diesel B2, with 2 per cent biodiesel content, is subjected to the Bt1.20 rate, from Bt0.70. The government will also reduce the subsidy for diesel B5, from Bt0.70 to Bt0.20. 

The higher contribution would raise the Oil Fund's monthly revenue from Bt1.57 billion to Bt2.5 billion, said Viraphol Jirapraditkul, director-general of the Energy Policy and Planning Office.