State mulls reducing diesel excise tax

The government’s struggle in dealing with the higher cost of living may cause authorities to consider reducing the excise tax on diesel to keep its price below 30 baht a litre, says an Energy Ministry official.

Though economists believe the ongoing outbreaks of Omicron worldwide will reduce global oil prices, the Oil Fuel Fund Office (Offo) still wants to carefully control diesel prices because the fuel is crucial for the transport and industrial sectors.

Diesel price fluctuations can affect the price of goods, putting a pinch on consumers when food prices are hiking, especially for pork.

Money from the Oil Fund, together with a 20-billion-baht loan from commercial banks, should be adequate to subsidise a cap on diesel prices…