Improving pandemic situations in many countries have spurred energy demand, while the war in Ukraine has further amplified surging fuel prices. Thailand has not been spared these rising costs, though the government reiterated that oil prices in the kingdom are still not the highest within the ASEAN bloc.
Government Spokesperson Thanakorn Wangboonkongchana said Prime Minister Gen Prayut Chan-o-cha has been closely following the volatile global oil price situation, while urging all parties to promote accurate information about the situation among the general public. Thanakorn added that the government prioritizes maintaining energy security and is determined to manage energy issues to the best of its ability.
The spokesperson also explained that each nation has its own oil price structure with varying tax measures, energy fund contributions and subsidies. He cited oil producers Malaysia and Brunei, which use revenue from energy exports to help finance domestic subsidies. Pump prices in these nations are subsequently lower than in countries which import oil.
Thanakorn further noted that the Thai government has continuously regulated oil prices by reducing taxes and by using the Oil Fund to subsidize diesel rates. Most recently, the amount of Oil Fund contributions collected from benzene users was also slashed.
