Oil levy decision expected on Wednesday

Oil levy decision expected on Wednesday

Energy Minister Supattanapong Punmeechaow. (Government House photo)
Energy Minister Supattanapong Punmeechaow. (Government House photo)

Energy Minister Supattanapong Punmeechaow expects a decision on Wednesday on the extent of oil refiners' contributions to the state Oil Fuel Fund to help keep pump prices down.

He said at Government House on Tuesday that energy officials would meet representatives of oil refineries again on Wednesday to discuss their contributions to the Oil Fuel Fund.

The Energy Ministry would study the relevant law to support the contribution and if the government and refiners reached an agreement on Wednesday, the Oil Fuel Fund Office could announce it right away,  without having to seek a cabinet approval, Mr Supattanapong said.

The government asked refiners to share their profits to help reduce local oil prices, which have risen in line with global prices. The Oil Fuel Fund, which is used to subsidised oil and gas prices, is about 103 billion baht in the red.

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