The Energy Policy Management Committee (EPMC), chaired by deputy junta chief ACM Prajin Juntong, vowed to conclude fuel price reforms within 10 days before presenting its proposals to the National Council for Peace and Order (NCPO) for final consideration.
Prajin: Reforms for sake of fairness
The committee yesterday decided to waive diesel’s contribution of 0.81 satang a litre to the state-owned Oil Fund by 10 days while the reform plan was being finalised, said ACM Prajin, who is also head of the NCPO’s economic affairs.
The EPMC yesterday also urged oil retailers to keep the price of diesel at no more than 29.85 baht for the time being, as global oil prices have risen lately due to the growing conflict in Iraq.
Dubai crude, which was previously quoted at US$106-109 a barrel, has increased to $110 this week, with the potential to rise further.
This has prompted major oil retailers except PTT Plc and Bangchak Petroleum Plc to raise diesel prices above 30 baht a litre.
The Energy Ministry has been assigned to negotiate with oil retailers to hold the price for the time being to curb the cost of living in the short term.
However, the EPMC yesterday agreed to let retailers lift the marketing margin for diesel from 1.14 baht a litre to 1.26 baht to help reduce the financial burden of retailers.
ACM Prajin also said the number of energy-related subcommittees would be reduced to 13-15 from 29 to improve efficiency.
The EPMC resolution came after the second round of the energy reform meeting on Sunday, also chaired by ACM Prajin, announced the reform of petrol and liquefied petroleum gas price structure should be concluded at the end of this month, while the overall energy policy reform was set to be completed within six months.
ACM Prajin added that all parties agreed the petrol and gas price structure should be reformed for the sake of fairness, prices should be lowered and the rules for overseeing energy affairs must be improved to provide maximum benefit.