Thailand’s diesel price set to drop slightly

Thailand’s diesel price was set to drop slightly yesterday. The country’s domestic price on diesel was expected to drop by 0.5 baht per litre, according to the Oil Fuel Fund Office (Offo). This is the second reduction in diesel prices this month, with another 0.5 baht per litre drop scheduled for February 22. Officials determined last week that the price would drop from 34.94 baht per litre to 34.44 baht per litre on February 15, Bangkok Post reported.

According to Global Petrol Prices, Thailand’s diesel price was 34.47 on February 13.

The drop in diesel prices follows a drop in the diesel reference price in Singapore from US$135.53 per barrel on average in November 2021 to US$116.12 in January, and finally to US$106 per barrel last week.

Energy authorities have stopped allocating money from the fund to subsidize diesel prices, but the price remains low because the diesel…