Bangkok, The Ministry of Energy reiterates that it will gradually increase the price of diesel. Until the price is fixed at no more than 33 baht/liter from the current price of 31 baht/liter, the Oil Fund is already negative by more than 100 billion baht. Emphasize preparation for a major adjustment to the energy price structure this year. Mr. Peeraphan Saleerathaviphak, Deputy Prime Minister and Minister of Energy, said that from the Cabinet approved 3 measures to help the people. and reduce the burden of living expenses, consisting of 1. Maintaining the price of diesel to not exceed 33 baht per liter (current price is approximately 31 baht/liter) using the mechanism of the Fuel Fund 2. Extending the period of fixing the retail price of cooking gas 423 baht per 15-kilogram drum until 30 June 2024 and 3. Reducing electricity costs by 19.05 satang from 4.18 baht to 3.99 baht per unit for residential homes that use no more than 300 units of electricity per month in the period from May to August 2024. It is co nsidered a short-term assistance measure. According to the current rules and laws. In the next period They are preparing to dismantle the new energy pricing system. which is currently being accelerated It is expected that a new law will be drafted. and can be implemented within this year. Thai people will see a fair change in energy prices. Reflects the true cost And it will adjust the country's energy model to be sustainable in the future. 'It must be acknowledged that at present the prices of almost all types of energy are subject to high levels of volatility. caused by external factors especially geopolitical problems The Ministry of Energy under my leadership has tried to help the people. Reduce the burden of expenses which in the oil part The government has set the ceiling at 33 baht per liter because the status of the fuel fund used to subsidize it is already negative by more than 100 billion baht. If there is no subsidy, the actual price of diesel will be 34 - 35 baht per liter, and the ceiling may be adjusted if the price of oil in the world market increases. But retail prices in Thailand will adjust gradually,' Mr. Peeraphan said. Reporters report that during the government of General Prayut Chan-o-cha, diesel was kept at no more than 32 baht/liter, but this government came in. Reduce the price of diesel to no more than 30 baht/liter by using funds from the Oil Fund and excise taxes to take care of it. But the price fluctuates heavily. until the price had to be gradually increased and announced Don't use taxes to take care of you. The latest position of the Oil Fund on May 5, 2024 was negative 109,186 million baht, divided into the negative oil account of 61,640 million baht and the LPG subsidy fund of 47,546 million baht, with the diesel B7 tax rate collected at 5.99 baht/liter and the fund Subsidizes diesel at 3.58 baht per liter, or approximately 250 million baht/day, or more than 7,500 million baht per month. Gradual increase in diesel prices It will reduce subsidies and increase liquidity for the Fund. The Fund currently has more than 1 million baht in debt. Hundreds of billions of baht in borrowing money to subsidize fuel prices. Source: Thai News Agency