Oil Fund to decide on diesel cap

The board of the Oil Fuel Fund is expected to decide on Monday if it will continue to cap the retail diesel price at 32 baht per litre for another week or raise it by one or two baht to relieve the burden on the fund, a source in the Energy Ministry said.

The soaring energy price triggered by the Ukraine-Russia conflict and the weak baht have pushed up costs despite the cabinet’s latest diesel excise tax cut which will last until July 20 to mitigate the impact of the global oil price surge. The meeting will be chaired by Energy Minister Supattanapong Punmeechaow.

Starting this month, the government decided to lift the 30-baht-per-litre diesel price cap and would only subsidise half of the difference above the 30-baht mark. The board of the Oil Fuel Fund approved a proposal to…