10-month freeze for LPG prices
The Energy Ministry yesterday agreed to fix the retail price of liquefied petroleum gas (LPG) at 20.29 baht a kilogramme for 10 months.
Production costs began rising more than a month ago.
Director-general Twarath Sutabutr said the LPG monthly reference price for November rose by UScopy5 a tonne from $410 a tonne last month.
The rise in global prices has also pushed up the cost for cooking gas retailers accordingly.
"The rise of copy5 a tonne is costing retailers more, at 65.21 satang per kilogramme," Mr Twarath said.
The Energy Policy Administrative committee, however, agreed yesterday to subsidise the additional cost for consumers, meaning that the retail LPG price will remain steady at 20.29 baht for the next 10...
"Instead of allowing the retail price to rise in line with the cost, the government decided to absorb the increase of 65.21 per kilogramme," Mr Twarath said.
The measure is aimed at helping relieve the burden for consumers during the domestic economy's fragile recovery, he said
The subsidy will cost the state Oil Fund approximately 100 million baht a month.
Currently, the state Oil Fund's available cash amounts to 34 billion baht.