Finance Ministry watching global oil price trends before seeking diesel excise cut
The Finance Ministry will wait to see how global oil prices move before it decides whether to propose a diesel excise cut to help bring down retail prices, Deputy Finance Minister Krisada Chinavicharana said on Tuesday.
The subsidy measure of the lowering excise tax on diesel fuel by 1 baht per litre expired on April 19.
Krisada said the Finance Ministry has not yet proposed that Cabinet extend the excise cut of 1 baht as the ministry believes that the Oil Fuel Fund could still susidise the retail diesel price.
“The Oil Fuel Fund still has enough capacity to take care of the diesel retail price to help consumers,” Krisada said.
He said the government was waiting to see the trend of global oil prices and the collection of government revenues.
Krisada said the government would receive major revenues in May and June and it might be able to launch more measures to help the people if necessary.
