Oil fund tapped to keep biodiesel B10 affordable

Oil fund tapped to keep biodiesel B10 affordable

The Energy Ministry will use the State Oil Fund to keep the retail price of biodiesel B10 from going above 30 baht per litre.

Ministry spokesman Sompop Pattanariyankool said the ministry has launched fuel price control measures to cope with the rising price of biodiesel B10 to help relieve the hardship of those involved in transport. Prices for the fuel rose five times during September. The latest rise came yesterday when all diesel prices rose 0.60 baht per litre and benzene prices increase 0.40 baht per litre.

The price now stands at 28.29 baht for biodiesel B10, (10% of palm-oil-derived methyl ester blended with diesel), which is the country's primary diesel. The government will subsidise the price to prevent biodiesel B10 prices from going above 30 baht per litre, he said.

Global fuel prices have been rising due to the economic recovery, winter seasons in parts of the West, and storms in the US which have combined to cause disruptions in fuel production.

The ministry is encouraging motorists to fill up with diesel B10 as its price is lower than diesel B7 by 3 baht per litre. The Oil Fuel Fund froze LPG at 318 baht per 15kg from March 24 last year while the Committee on Energy Policy Administration approved on Sept 20 to extend the price to the end of this year.

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