New Year price slash for B10, E20
published : 13 Dec 2019 at 18:24
writer: Lamonphet Apisitniran
The Energy Ministry plans to cut retail prices for biodiesel B10 and gasohol E20 by another one baht per litre during the New Year period to reduce fuel costs for Thais during the long holiday.
This campaign will be effective from Dec 25 to Jan 10. At present, B10 and E20 cost 24.09 baht and 23.84 baht per litre, respectively.
Energy Minister Sontirat Sontijirawong said this plan will be sent to the cabinet for approval soon.
“For B10, the government wants to absorb the surplus of crude palm oil for the biodiesel process and maintain the price of fresh palm nuts for Thai farmers,” he said.
“The ministry has made a compulsory order for all petrol stations nationwide to sell B10, replacing B7, from Jan 1. The cheaper price by 1 baht is a campaign to encourage Thai motorists to refill with B10.”
Petrol stations are expected to expand B10 distribution nationwide by February or March, said Mr Sontirat.
He said E20 is meant to be a fundamental fuel and the ministry is considering making a new announcement soon.
The New Year prices will be subsidised by the ministry via cash from the State Oil Fund, said Mr Sontirat.
He said the ministry plans to announce new measures to protect against smuggling of crude palm oil from neighbouring countries and supporting future shipment of biodiesel B100 in mid-January.
“The government wants to stabilise the price of crude palm oil to help farmers suffering from the surplus output,” said Mr Sontirat.
“The B10 mandatory announcement increased the price of fresh palm nuts to 5 baht per kilogramme from 2-3 baht previously, while crude palm oil rose from 22 baht per kg to 28 baht.”
He said the Energy Regulatory Commission will freeze the fuel tariff (Ft) rate at 3.64 baht per kilowatt-hour (unit) for another four months from January to April next year to avoid power prices burdening consumers amid a sluggish economy.
The Ft rate has been maintained for 16 months.