Thailand boosts subsidy for B3

Thailand’s Energy Policy Committee (EPC) has approved an additional 30 satang (US$0.30) a liter for the B3 subsidy, to keep diesel prices below 30 baht (US$0.96) a liter, as global diesel fuel prices climbed to US$109.26 a barrel, from US$107 the week before. The additional subsidy will cost the Oil Fund another 113 million baht (US$3.62 million) per day. B3 is now subsidized at 1.95 baht (US$0.06) a liter and B5 at 2.50 baht (US$0.08). The EPC has earmarked five billion baht (US$160.39 million) from the fund since December to keep the price cap. (January 25, 2011)