Diesel taxes set to be dropped

News > Local News

Move to peg pump price will lose the govt B45bn

Published: 19/04/2011 at 10:08 AM
Newspaper section: News

Diesel excise and value-added taxes seem likely to be dropped from next month if the cabinet today agrees to help the government cap the pump price at less than 30 baht a litre.

Prime Minister Abhisit Vejjajiva, Finance Minister Korn Chatikavanij, left, and Energy Minister Wannarat Channukul at a press conference yesterday on the government’s move to cap the diesel fuel price.

PHOTO COURTESY OF GOVERNMENT HOUSE

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Writer: Chatrudee Theparat, Yuthana Praiwan and Wichit Chantanusornsiri

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drake
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Discussion 12 : 19/04/2011 at 10:58 PM12
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Say tommylee-D8:
Don't you have anythig of your own to say ?
That's the second time you posted an entire Engdahl quote in 24 hours.
(http://oilgeopolitics.net/Financial_Tsunami/Oil_Speculation/oil_speculation.HTM)
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johninbkk
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Discussion 11 : 19/04/2011 at 07:48 PM11
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D5, D8, D10 - Trading of oil futures isn't the cause of high oil prices. The futures prices are based on real world market value predictions. If a trader buys high thinking the price will go higher, but then the oil price drops, he'll lose a lot of money. OPEC profits from high oil prices, so by controlling supply they can control the price.
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ardsong
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Discussion 10 : 19/04/2011 at 05:45 PM10
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Phetpeter #5 agree fully with you that traders at this moment are the main cause of the high oil prices. but how to stop trading in oil futures ??? these blokes have shown, during bank crises etc not to rest till they have cashed their desired money!
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wantmyony
Post : 559
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Discussion 9 : 19/04/2011 at 04:23 PM9
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Thailnad will have to borrow from IMF to purchase submarines, tanks, fighter planes and pay government workers. Without revenue from taxing the rich and vehicle users, it will have to sell land and islands to raise money.
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tommylee
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Discussion 8 : 19/04/2011 at 04:07 PM8
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Control of oil prices has left OPEC and gone to Wall Street. The price of oil is a US government regulatory problem of malign neglect: In January 2006, when the Bush Administration opened the way to the present unregulated and highly opaque oil futures speculation, oil prices were trading $59-60 a barrel. Today's prices are $108-$122 (Brent). As these same Wall Street people have bought off US politicians (and European ones as well), there is no way that "governments around the world will rein in these people" as D5 is asking.
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dao
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Discussion 7 : 19/04/2011 at 11:10 AM7
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Gas prices along with everything else should be allowed to float with the market .
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nhatdinh
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Discussion 6 : 19/04/2011 at 10:20 AM6
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It's easy to subsidy but it's very hard to get away from subsidies-addicted population and industry.
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phetpeter
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Discussion 5 : 19/04/2011 at 08:17 AM5
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Doesn't anybody listen? OPEC have told everybody that there is no reason for the price rises as there is enough oil produced and no shortage! It is the profit makers in places such as the futures market forcing the prices up for profit. It is up to governments around the world to rein in these people and business by having the stock market suspend futures trading in oil for the next 6 months.
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nedkelly
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Discussion 4 : 19/04/2011 at 07:41 AM4
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The Federation of Thai Industries is just like the Thai farmers, they lack the intelligence to get their operations running efficiently then expect the government to foot the bill for their incompetence.
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johninbkk
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Discussion 3 : 19/04/2011 at 06:52 AM3
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Who wants to bet AV will drop the subsidy only after elections?
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