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ENERGY
YUTHANA PRAIWAN
A Bangchak attendant introduces the new B5 Euro4 diesel fuel yesterday. |
The Finance Ministry will propose a temporary 80% reduction of the planned excise tax rate for E85, a blend of 85% ethanol and 15% petrol, to just 50 satang a litre from 2.50 baht planned earlier. Finance Minister Surapong Suebwonglee said the low excise tax rate would apply for 18 to 24 months following the introduction of the fuel later this year. The excise tax for E85-compatible cars remains under consideration.
Early last month, the cabinet approved tariff incentives to support E85 fuel and E85-compatible cars by waiving the import tariffs for some parts and components of E85 vehicles that are not produced locally for three years.
The cabinet proposed excise tax rates for E85 cars at 25% for those with engines of 2,000cc or smaller, 30% for 2,000 to 2,500cc, and 35% for 2,500 to 3,000cc.
Energy Minister Poonpirom Liptapanlop said energy policy planners were ready for the commercial launch of the E85, with an international standard being laid down by the Department of Energy Business.
She said details Prime Minister Samak Sundaravej would announce the details on Sunday on his weekly NBT television programme.
The retail price of E85 is expected to be 15-20 baht a litre lower than for premium petrol to encourage motorists to purchase flexible fuel vehicles (FFVs).
Lt Gen Poonpirom also said that details of a plan to float prices of subsidised liquefied petroleum gas (LPG) for transport would be finalised next week.
Bangchak Petroleum Plc (BCP), the majority state-owned oil refiner, said it was ready to launch E85 at 15 stations in Bangkok once FFVs are commercially available here, said BCP president Anusorn Sangnimnuan.
An investment of two million baht per station is required for the E85 dispensers and a viable marketing margin should be at least 2.50 baht a litre, he said.
Bangchak yesterday launched its new B5 diesel, 5% biofuel blended with 95% high-speed diesel, at 750 of its 1,000 stations.
Its B5 fuel was developed to comply with the government's Euro4 standard.
Bangchak is the country's second oil vendor to offer the B5 fuel nationwide after PTT Plc, which began selling B5 in February at 680 of its 1,200 stations nationwide.
To ensure supply, Bangchak has secured a long-term biofuel purchasing contracts totalling three million litres a month from local biofuel producers.
BCP shares prices closed yesterday on the SET at 11 baht, down 10 satang, in trade worth 2.15 million baht.
In line with the decline of global crude prices, all fuel prices will be reduced today by 0.40 baht a litre. The new prices are 43.19 baht a litre for premium petrol, 41.79 baht for regular petrol, 38.19 baht for gasohol 95 and 37.39 baht for gasohol 91.
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