Cars stop at a PTT Public Company Limited’s gas station in Bangkok, Thailand, January 28, 2016. REUTERS/Athit Perawongmetha
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BANGKOK, Feb 15 (Reuters) – Thailand’s cabinet on Tuesday agreed to cut the excise tax on diesel by 3 baht ($0.0928) per litre for three months, from 5.99 baht currently, to help mitigate the impact of high energy prices.
The tax cut will reduce revenue by 17 billion baht ($526 million), but that should be partially offset by a rise in other tax revenue as the economy is recovering, Finance Minister Arkhom Termpittayapaisith told a news conference.
“The tax is necessary as the government has extended the cap of diesel prices at 30 baht per litre until the end of May,” he said.
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But the country’s oil fund, which stabilises domestic prices, is…
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