The cabinet on Tuesday approved in principle a 2.5 baht per litre reduction in the pump price of gasohol 91 for three months, probably from Oct 31, the energy minister said.
Pirapan Salirathavibhaga said the price cut would come from a reduction in excise tax of 2.5 baht per litre. This was similar to the means used to reduce diesel pump prices.
The Energy Ministry proposed the reduction to the cabinet on Tuesday, on the prime minister's instructions.
The ministry would present full details to the cabinet next Tuesday, and the reduction in the gasohol 91 price should then take immediate effect, Mr Pirapan said.
Gasohol 91 was 37.98 baht per litre at PTT and Bangchak petrol stations in Greater Bangkok on Tuesday.
The price cut, through a reduction in excise tax, would reduce state revenue by about 1 billion baht, the energy minister said.
Mr Pirapan, also a deputy prime minister, said the Energy Ministry would find ways to also reduce the pump prices of other kinds of petrol.
It would also revise the overall oil price structure. The restructuring would be the biggest of its kind in the last decade, he said.