Diesel price up by another baht

Diesel price up by another baht

The board of the Oil Fuel Fund yesterday agreed to increase the price of standard diesel fuel from 33.94 baht per litre to 34.94 baht starting today.

Wisak Wattanasap, director of the Office of the Fuel Fund, said the board reviewed global fuel prices and concluded they will remain volatile and high in the foreseeable future. He said factors affecting price includes sanctions on Russian oil, China's gradual reopening of its borders and declines in US crude oil reserves.

The board agrees to raise the cap by 1 baht, he said, adding it is part of a move to gradually increase the price to avoid adverse impacts on living costs.

As of yesterday, the Oil Fuel Fund was 91 billion baht in the red. Of this, 54 billion baht was used to curb oil prices and 36 billion baht was used for the LPG price subsidy.



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