New measures planned to tame energy costs

New measures planned to tame energy costs

Minister eyes oil refiners' margins

A motorcyclist tops up his tank at a petrol station in Bangkok. The energy minister is eyeing new ways to rein in the rising cost of energy, including adjusting refiners' margins. (Photo: Wichan Charoenkiatpakul)
A motorcyclist tops up his tank at a petrol station in Bangkok. The energy minister is eyeing new ways to rein in the rising cost of energy, including adjusting refiners' margins. (Photo: Wichan Charoenkiatpakul)

Fresh measures are being prepared to control the rising price of energy, and rein in the cost of living, with existing measures set to expire at the end of this month, Energy Minister Supattanapong Punmeechaow said on Thursday.

Mr Supattanapong, also a deputy prime minister,  said existing measures were introduced last October and then extended from March to June.

New measures would partly deal with the margin of oil refiners, which had risen from two baht per litre to over five baht, he said.

Officials would look into oil, consumer protection and commerce laws for ways to persuade refiners to lower prices, especially the retail price of diesel price, said Mr Supattanapong, who is also a deputy prime minister.

The measures would be fundamental to post-Covid-19 economic stimulation, he said.

The minister would discuss possible measures with representatives of the Finance Ministry, the National Economic and Social Development Council, the Bank of Thailand and the Commerce Ministry before finalising them.


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