Oil Fuel Fund to be used to maintain diesel retail price at 32 baht per litre

Wisak said maintaining the diesel retail price would minimise impact on consumers while the country’s economy was recovering.

He said the measures would be based on the current situation, while the global oil prices were still fluctuating and there was still a risk of rising prices.

He added that the Oil Fuel Fund was still incurring losses, but its liquidity had improved with loans and with contributions to the fund.

“The office will use its mechanism to maintain the retail price at 32 baht as long as possible until the liquidity of the fund is affected, to minimise the impact on the economy,” Wisak said.

He said the office would propose excise tax cut again after the new government takes office.

As of Sunday (July 16), the Oil Fuel Fund had a standing loss of 49.829 billion baht – 4.316 billion caused by oil price subsidy and 45.513…