The FAO maintains stability in the price of LPG gas, resulting in the retail price of LPG in a 15 kg tank remaining unchanged at 423 baht for another month until 30 Sep. 2023 in order to alleviate the impact on people during the price period. LPG world market is still volatile.
Mr. Wisak Wattanasap, Director of the Fuel Fund Office (NFF), revealed that the meeting of the Fuel Fund Executive Committee (FPF) yesterday (29 Aug. 2023) considered guidelines for maintaining level stability. The retail price of liquefied petroleum gas (LPG) fuel, with LPG priced at more than 363 baht, is higher than the appropriate price level for a 15 kilogram tank. According to the fuel crisis response plan, the NBTC has therefore used the Oil Fund's mechanism to stabilize the price of LPG. At 423 baht per 15-kilogram tank for another 1 month from 1 - 30 Sept. 2023, from the original ending date of 31 Aug. in order to meet the LPG retail price target framework set by the Executive Committee. The Energy Policy (NPG) determines and does not affect the livelihood of the people too much. Confirmed that price fixing this time does not require borrowing to compensate. Because there is a mechanism of the Oil Fund according to the Fuel Act. already in maintaining stability
Meanwhile, the price of LPG Cargo in the world market continues to increase. The average price from 7 – 18 August 2023 is 561 USD per ton. from the global economic slowdown tightening of oil prices and the increase in interest rates of the Federal Reserve, United Kingdom and the European Union.
As for the latest oil fund position as of 27 Aug. 2023, it was negative at 55,091 million baht, divided into a negative LPG account of 44,716 million baht and a negative oil account of 10,375 million baht.
“As for the new government that wants to reduce energy prices Viewed as a good thing Because the person who will hold the position Deputy Prime Minister in charge of economic matters and Minister of Energy Probably from the same party. who has knowledge and understanding of the fuel fund mechanism Whether the price can be reduced or not still needs to be discussed again,” Mr. Wisak said.
Source: Thai News Agency