As for the reason for the price reduction, it is a result of the decrease in average world fuel prices, especially diesel. From January to March 15, it was found that the price of diesel fuel in the month Jan averaged at $113.95 per barrel, Feb was $103.61 per barrel. In addition, the Cabinet resolution (Cabinet) on March 14 has extended the period for reducing the excise tax rate on diesel fuel by 5 baht per liter for another two months from May 21 to July 20. And the status of the oil fund is starting to improve, with a negative position below the hundred thousand million baht. Most recently, the position of the oil fund on March 12 was negative 99,662 million baht, divided into a negative oil account of 53,290 million baht and a negative cooking gas or LPG account of 46,372 million baht, with the oil account earning money from user collection. Diesel to the fund at 5.05 baht per liter as of March 17, from previously subsidizing up to 10 baht per liter.
Mr. Wisak said Oil price volatility, one must keep an eye on important events that cause fluctuations in oil prices, for example, Russia cuts oil production by 500,000 barrels per day in September. This March, or 5% of total production. China’s economic expansion after opening up and the case of the US government ordering the closure of Silicon Valley Bank (SVB) and Signature Bank (SB), including the financial situation that requires the help of Credit Suisse. which is the second largest bank in Switzerland
For LPG price situation that month Mar. has increased by 1 baht per kilogram (kg), resulting in a retail price of 423 baht per 15 kg bucket. The latest Energy Policy Service Committee (PAF) resolved to freeze the price for 3 months (Apr. Y.-Jun.) From the current actual cost is 510 baht per 15 kg drum, according to the world situation with high volatility. The oil fund subsidizes 8.88 baht per kg, resulting in a negative LPG account of 46,372 million baht.