Crisis over the crisis affects Thai energy prices, pushing the “oil fund” at the end of June. 65 Negatively exceeded 100 billion, while the “Thaksin” era ruled in the midst of a political war between The US-Iraq was also negative at 92 billion.
Crisis over the crisis affects Thai energy prices, pushing the “oil fund” at the end of June. 65 Negatively exceeded 100 billion, while the “Thaksin” era ruled in the midst of a political war between The US-Iraq was also negative at 92 billion.
from demand-supplyof the following-world oil demandeconomic recoveryfrom the Covid-19 crisis plus the political war between Russia and Ukraine As a result, the world has to face the same problem. Soaring oil prices can’t be dragged. and dragged on since the beginning of the year and is likely to last until the end of 2022
In this regard, Thailand uses a mechanism to manage oil prices by using money from “Fuel Fund” come to support As a result, the financial position of mid-June 2022 must be negative for more than 90 billion baht because during the past 3-4 months, the fund has to pay subsidies for diesel fuel prices. and LPG cooking gas (household sector) totaling 20,000 million baht and the end of June 2022 will definitely be negative past 100,000 million baht.
Considered to break the record for the compensation of oil prices during the government Thaksin Shinawatra used money fromfuel fundThe highest subsidies in history reached 92,070 million baht.
Source of news from the Office of the Fuel Fund said that the impact of the oil price intervention policy during 2004-2005 Thaksin government heavily subsidized diesel prices Factors caused by the war between the United States and Iraq and Venezuela’s political problems. which is the world’s largest oil exporter
As a result, the government had to announce the price of gasoline 95 at 16.99 baht per liter and gasoline 91 at 16.19 baht per liter, while diesel was fixed at 14.59 baht per liter, which was used by the Petroleum Fund. support the price in several million baht until finally having to borrow money from financial institutions But still can’t support the price for a long time.
and announced the oil price float and ended the diesel price support at 22.49 baht per liter and 25.56 baht per liter of gasoline during the month of July 2005 by using the oil price subsidies at 92,070 million baht and borrowing money fromfinancial institutionto support the total oil price of 71,000 million baht
Later, during the government “Aphisit Vejjajiva” During the month of Dec. 2008 World crude oil prices continued to decline. oil fund Able to collect all debts accumulated from the previous government, resulting in the oil fund’s position to be positive once more at 28,768 million baht.
Later in 2011, the government “Yingluck Shinawatra” World crude oil prices fluctuate once more. The government used a method of slowing the collection of money into the oil fund. For some types of fuel temporarily The main oil fund position was over 20,000 baht under the oil price that broke 40 baht per liter.
later the governmentNational Council for Peace and Order (NCPO) In 2014, world oil prices began to decline once more for regarding 5 years and fell heavily in 2019 because of the Covid-19 poisoning. Global policies have begun to close the country. and measures to work from home The demand for oil has decreased. The Thai government does not have to spend money to carry oil prices and collect more than 30 billion baht in the oil fund.
By managing energy prices by means of keeping oil prices from affecting more than 60% of diesel car users, oil tankers must use subsidies to support oil prices following the economy starts to recover at the end of 2021. Many countries have started to open up the country. The demand for oil has risen once more. and started to become negative once more at 10 billion baht at the end of January 2022
However “Supatpong Phanmechaow” Deputy Prime Minister and Minister of Energy continues to move forward with measures to support the price of diesel fuel not to exceed 30 baht per liter continuously Until the crisis overlapped the political war between Russia and Ukraine at the end of Feb. 2022 Negative oil fund hits 20,000 million baht once more
and gradually become negative and adjust the diesel price to 32 baht per liter during April 2022, where the oil fund is negative, surpassing 50,000 million baht, until recently had to let diesel surpass 35 baht per liter, while the oil fund on 19 June 2022 was negative 96,598 million baht andEnd of June 2022, the oil fund will have to go negative past 100 billion baht, which is the highest in history.
From the information it is clear that Management mechanism byfuel fundconsidered to be able to support oil prices during an uptrend But if the oil price in the world market will continue to rise and for a long time As a result, the oil fund had to use a subsidy of more than 10 baht per liter to support the price to 35 baht per liter from the actual price of 45 baht per liter, creating a debt of 20 billion baht per month for the country.
Is it time for the government to gradually reduce subsidies and gradually increase the price according to the market mechanism in neighboring countries So that the country will not be in huge debt as a burden to the next generation.
