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Thai Cabinet approves lowering diesel import tax for six months

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Thai Cabinet approves lowering diesel import tax for six months

The Cabinet has approved the lowering of the excise tax for imported diesel fuel for six months as a short-term measure to alleviate rising fuel costs in the Kingdom.

According to Ratchada Thanadirek, deputy spokesperson for the Office of the Prime Minister, the proposed cut will apply to diesel with sulfur content not exceeding 500 parts per million (ppm) or Diesel B10.

The aim is to shield consumers from higher energy costs due to rising global oil prices.

The approved measure, to be implemented this month and continuing until September 15, will directly subsidize diesel costs for electricity generation. Authorities estimate that the cost of electricity in the country will fall by 1 to 1.5 baht per unit.

The cut is expected to significantly help keep energy costs in check for both general living and local businesses operations.

60% of the country’s electricity generation currently comes from natural gas.

Source: NNT

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