Pump prices for gasohol E20 and E85 will fall after the Policy Administration Committee (EPAC) increased the subsidy from the state Oil Fund to promote the use of ethanol as an alternative fuel.
Energy Minister Anantaporn Kanjanarat said the EPAC increased the subsidy to 2.40 baht a litre for gasohol E20 and 9.23 baht for gasohol E85. Therefore, the retail price for E20 would be cut by 54 satang a litre and 2.14 baht for E85, effective Saturday.
As of Friday, the price of gasohol E20 was at 22.98 baht a litre and gasohol E85 was 22.48 baht.
Mr Anantaporn said the committee also held the price of liquefied petroleum gas (LPG) for use in cars at 22.29 baht a kilogramme despite a rise in the price on the global market, by reducing the contribution from LPG to the fund to 8.27 satang a kilo, down from 92.62 satang, also effective on Saturday.
This was possible because the Oil Fund currently is in positive balance of around 8.2 billion baht.