State sees no urgent need to cut excise tax on diesel

The government insists the state Oil Fund still has sufficient funding to subsidise retail diesel prices until March 31 and sees no urgent need to cut the excise tax on diesel.

Energy Minister Supattanapong Punmeechaow said the government has not yet considered additional borrowing for the state Oil Fund because it has enough funding to subsidise the cap on diesel prices at 30 baht per litre until March 31.

“The government closely monitors global oil prices, which are rising because of a world economic recovery and political tension in Europe,” he said.

Regarding whether the government needs to secure additional borrowing for the state Oil Fund after March, Mr Supattanapong…