State eyes options to retain fuel cap
Borrowing to surge to maintain funding
The government is looking for additional sources of funding to finance its energy subsidies, as its financial assistance is running low while global oil prices are approaching US$100 a barrel.
The Oil Fuel Fund Office (Offo) previously paid 7 billion baht a month to cap the diesel price at 29.94 baht a litre, compared with the regular price of 33.73 baht a litre — driven by a global surge in oil prices — and fix the price of liquefied petroleum gas at 318 baht per 15-kilogram gas cylinder, compared with the regular price of 432 baht.
The subsidies are likely to…
