Bangkok:Thailand's Cabinet has approved a three-month reduction in excise taxes on E20 gasohol and B20 biodiesel to support farmers, transport operators, and consumers, Prime Minister Anutin Charnvirakul announced on Tuesday.
According to Thai News Agency, the measure includes a reduction in excise tax on E20 gasohol by 5.60 baht ($0.16) per liter, while the tax on B20 biodiesel will decrease by 5.50 baht per liter. The government plans to review the policy after the initial three-month period.
Anutin, who also serves as Interior Minister, stated that the tax cuts are intended to ease living costs and boost demand for agricultural commodities used in biofuel production. The Energy Ministry has been tasked with the tax reduction targets and is scheduled to meet on Tuesday afternoon to determine the retail prices at petrol stations.