Bangkok: The Oil Fund Office has announced a further reduction in the collection of money into the Oil Fund by 65 satang per liter, maintaining the diesel price at the pump. This marks the fourth such reduction, aimed at stabilizing fuel prices amid rising global oil prices.
According to Thai News Agency, Mr. Pornchai Chirakulpaisan, Director of the Policy and Planning Office at the Oil Fund Office, disclosed that the Oil Fund Executive Committee resolved to decrease the oil fund collection rate for diesel by 65 satang per liter, effective from June 21, 2025. This decision is intended to support retail fuel prices at gas stations and mitigate the impact of rising global oil prices, driven by tensions in the Middle East between Israel and Iran. Currently, the price of Dubai crude oil has surged to 76.90 USD per barrel, while diesel and gasoline prices have risen to 97.51 USD and 88.68 USD per barrel, respectively.
This reduction is the fourth implementation by the Oil Fund Office within the week, utilizing funds to stabilize diesel prices and prevent further increases. Despite the reduction resulting in a negative diesel income of 20.73 million baht per day for the Oil Fund, gasoline income remains stable at approximately 72.88 million baht per day. Mr. Pornchai emphasized that although the Oil Fund's liquidity has decreased, resulting in negative diesel revenue, the ONCB is committed to maintaining price stability to shield the economy and living costs from the volatility of global oil prices. The Oil Fund Act B.E. 2562 serves as a framework for employing the collection rate as a crucial mechanism for price management, with the ONCB prepared to adapt measures to align with economic conditions and public well-being.