Bangkok: Diesel prices have soared beyond the 50 baht per liter mark after the Energy Policy and Planning Office (EPPO) decided to reduce compensation payments. This adjustment comes amidst efforts to address a significant deficit exceeding 50 billion baht in the oil fund. The surge in prices prompted a rush at gas stations, with many motorists filling their tanks before the increase took effect.
According to Thai News Agency, the Fuel Fund Management Committee (FFMC) resolved on April 4 to cut the fuel fund compensation rate for diesel by 2.61 baht per liter. This reduction means that B7 diesel will decrease from 20.71 baht per liter to 18.10 baht per liter, while B20 will drop from 22.22 baht per liter to 19.61 baht per liter.
As a result, the retail price of diesel has increased by 2.80 baht per liter, bringing B7 from 47.74 baht per liter to 50.54 baht per liter, and B20 from 42.75 baht per liter to 45.54 baht per liter. This adjustment is aimed at aligning with current market conditions and maintaining the liquidity stability of the fuel fund, effective from April 5 onwards. This marks the ninth increase since the Iran-Iran conflict, with a cumulative rise of 20.60 baht per liter.