Fuel Oil Fund Ready to Flow All Out All to Maintain 30Baht/Liter
Fuel Oil Fund Ready to Flow All Out All to Maintain 30Baht/Liter Diesel Price in Global Sky Rocket High Scenario/ if Dubai Crude Oil Climb Up to 88 $/BBL.
11-10-2018–Energy Minister Siri disclosed after Energy Policy Committee meeting today that even now Dubai Crude oil price was currently decreased to 82.95$/BBL, but by the uncertainty situation of global crude oil price remain, then Energy Policy Committee prepared the options to heal the effect from higher Diesel price Fuel Oil Fund will be ready to compensate 0.50 baht/liter more for diesel retail price to compensate -1.50 Baht/liter Diesel price to capture Diesel retail price at not over 30 Baht/Liter, if Dubai Crude oil increased to 82.5-87.5 $/BBL, which fuel oil fund will be able to handle for 6 months in this scenario or until March 2019.
According to Energy Minister, the sum from Feul Oil Fund captured at not over 6 billion baht for Diesel retail price compensation was removed to unlimited, by having the existing 25.592 Billion baht Fuel Oil Fund remain ready to compensate the posibly sky rocket increased Diesell retail price during winter time, if the Dubai crude oil price increased over 87.5 $/BBL to 92.5 $/BBL and will have the measure mixed with increasing Diesel Retail Price and/or cutting Diesel tax, depending on the situation.
By the way , the remain fuel oil fund will last 9 months long if the Dubai Crude oil price declide to 80.0-82.5 $/BBL that will require only -1.00 baht/liter to compensate Diesel retail price.
While the fund will be able to last 18 months if Dubai Crude oil price declide to 77.5-80.0 $/BBL that require only -0.50 baht/liter for Diesel retail price compensation.
According to Minister Siri, the compensation require to support the Poor Autobike Taxi drivers will be about 300 million baht for 6 months or 600 million baht a year.
