BANGKOK, Dec 25 (TNA) – All retail oil prices will drop by one baht per litre, effective tomorrow (Dec26) to January 10 as the New Year gift for people.
The State Oil Fund Administrative Committee approved reduction in levy collection for the oil fund, contributing to a drop in all retail oil prices by one baht per litre, said Energy Minister Sontirat Sontijirawong.
It is the New Year gift for travelers to reduce fuel costs during the New Year holiday.
The measure after put into effect will cost the oil fund about 87 million baht per day or more than 1.3 billion baht during the 16 –day scheme.
The oil fund status is currently reported at 38 billion baht.
Oil traders, PTT and Bang Chak announced the plans to cut retail oil prices tomorrow until Jan 10.
After that, they will decide later whether to increase the oil prices, depending on the global oil prices. (TNA)
