The cabinet on Tuesday extended the reduction in excise tax on standard diesel for another two months and increased the size of the cut, Prime Minister Prayut Chan-o-cha said.
Speaking after the cabinet meeting, Gen Prayut said that from May 21 to July 20 the excise tax on B5 diesel would be cut by five baht per litre.
This is an increase of two baht on the previous reduction of three baht.
The tax cut would cost the state about 20 billion baht in revenue and the Oil Fuel Fund would be about 70 billion baht in the red as a result, he said.
“It is necessary to take care of the people…
