Thailand approves diesel fuel subsidy

Thailand’s Energy Policy and Planning Office (EPPO) has approved the proposed use of 5 billion baht (US$166.33 million) from the State Oil Fund to help cap local diesel fuel prices below the 30 baht a liter (US$1) level. Energy Minister Wannarat Channukul said the ministry will have to discuss with the Finance Ministry about contingency plans in case that the approved budget is depleted while global oil prices remain on the rise. Currently, some petrol distributors have raised their B3 diesel price to 30.29 baht (US$1.01) a liter. (December 31, 2010)