"oil price"

Negotiations with oil and gas refiners over their contribution to the Oil Fuel Fund are expected to conclude on Wednesday, Energy Minister Supattanapong Punmeechaow said on Tuesday.

The government will maintain energy and financial stability to mitigate the impacts of rising energy prices especially on vulnerable people, Prime Minister Prayut Chan-o-cha said on Wednesday.

The price of diesel will be maintained at 34.94 baht per litre despite the surge in global oil prices, the Oil Fuel Fund’s Executive Committee said on Monday.

Thousands of motorists are flocking to automotive service shops to fit their cars with liquefied petroleum gas (LPG) systems or electricity in a bid to escape the impact of rising oil prices.

The price of diesel may hit 38 baht per litre now that the Oil Fuel Fund’s deficit is getting wider, an official said Tuesday.

The Oil Fuel Fund Executive Committee on Monday agreed to raise the diesel price from 34 baht to 35 baht per litre from Tuesday.

The government should cap the margin enjoyed by oil refineries and slap a “windfall tax” on them as part of measures to survive the oil crisis, Kla Party’s secretary-general Korn Chatikavanij said on Sunday.

The Fuel Fund Executive Committee voted on Wednesday to retain retail diesel oil price at THB32 per litre until May 22, a senior official said.

The Finance Ministry will this month borrow THB30 billion from certain commercial banks to boost liquidity of the Oil Fuel Fund, a senior ministry official said on Tuesday.

Monday’s meeting of the Oil Fuel Fund executive committee agreed to fix the price of diesel at 32 baht per litre for this week, said Oil Fuel Fund Office (OFFO) director Wisak Watanasap.

The Fuel Fund Executive Committee is expected to increase retail diesel price by one or two baht next week as the fund’s deficit has soared to over THB60 billion, a well-informed source said.

Owners of fishing boats in Trang province have gradually berthed their fleet after the retail price of diesel oil reached THB32 per litre.